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☆ Stock futures are little changed after Dow posts a seventh straight day of gains: Live updates
▼ + stars: | 2023-07-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Tuesday night after the Dow Jones Industrial Average notched its longest winning streak since 2021. Dow Jones Industrial Average futures wavered near the flat line. The Dow Jones Industrial Average notched a seventh straight positive session on Tuesday for its longest string of gains since March 2021. Housing starts are expected to have dropped by 9.3%, according to economists polled by Dow Jones. Meanwhile, June building permits are anticipated to have declined 0.7%, according to Dow Jones consensus estimates.

Persons: Carvana, Alger's Ankur Crawford, we've troughed, Crawford, Goldman Sachs, Dow Jones, Dow Organizations: Dow Jones, Dow Jones Industrial, Nasdaq, Dow, Netflix, Tesla, IBM, United Airlines, Housing

☆ The war against inflation is a long way away from being won
▼ + stars: | 2023-07-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

But those data points reflected relative rates of change, not capturing the overall surge that led to the highest inflation level in more than 40 years. The 12-month PPI reading had peaked at an annual rate of 11.6% in March 2022, its highest ever in data going back to November 2010. "Near-term price inflation may do little to contradict rising Fed official and market hope that a benign outcome is being achieved." For their part, Fed officials have indicated they see their benchmark rate rising by at least half a percentage point by the end of the year. So-called core inflation rose 0.2% in June and was tracking at a 4.8% annual rate, much higher than the Fed would like.

Persons: Robert Nickelsberg, Jared Bernstein, Sharp, Andrew Hollenhorst, Hollenhorst, Jerome Powell, That's Organizations: Hannaford, Financial, White House's Council, Economic Advisers, CNBC, Labor Department, Citigroup, Energy, of Labor Statistics Locations: South Burlington , Vermont

☆ Opinion | America Must Rebuild Itself. The Question Is How.
▼ + stars: | 2023-07-16 | by ( Ezra Klein | ) www.nytimes.com time to read: +4 min

In practice, though, the term “organized labor” belies the reality of fractured, disorganized labor organizations at the state and local levels. I’ve talked in previous columns about the cost and speed gains to be made by using modular housing produced in off-site factories that use union labor. That said, I think labor is a more natural ally in this project than some other liberal interest groups. You can see that in Pennsylvania, where a section of I-95 collapsed and was rebuilt in a matter of weeks, not months or years, with union labor. Plenty of countries with stronger unions than America complete transit projects more rapidly and more affordably than we do.

Persons: I’ve, Josh Shapiro, “, ” Shapiro, Biden, Shapiro Organizations: Commonwealth, Democratic Locations: California, Pennsylvania, America, Plenty, United States

☆ These are the 3 key things that will impact the stock market in the week ahead
▼ + stars: | 2023-07-15 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

A lot was riding on these important measures of inflation after the scorching-hot ADP jobs report last week. Here are 3 things you need to know for the week ahead: 1. Industrial production and capacity utilization, also out Tuesday, shines a light on manufacturing, which attributes about 12% to U.S. GDP. Six months is generally considered to represent a balance between supply and demand in the housing market. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Morgan Stanley, Johnson, Jeff Miller, Lockheed Martin, Charles Schwab, JB Hunt, Goldman, Baker Hughes, Ally, Kinder Morgan, Zions, Philip Morris, Abbott, ABT, Jim Cramer's, Jim Cramer, Jim, Scott Olson Organizations: Nasdaq, Dow Jones Industrial, Housing, CPI, Halliburton, HAL, Johnson, of America Corp, Lockheed, Lockheed Martin Corp, Novartis International AG, PNC Financial Services Group, Inc, PNC, Charles Schwab Corp, Bank of New York Mellon Corporation, BK, Synchrony, Interactive, Goldman Sachs Group, U.S . Bancorp, ASML, Citizens Financial, T Bank Corp, Northern Trust Corporation, Horizon National Corp, Business Machines Corp, IBM, United Airlines, Netflix, Steel Dynamics, Alcoa, Discover Financial Services, Crown, International Corp, Equifax Inc, Las Vegas Sands Corp, Liberty Energy Inc, Philip Morris International Inc, Taiwan Semiconductor Manufacturing Company, American Airlines Group Inc, Travelers Companies, SAP, Nokia Corp, Truist Financial Corporation, Company, McLennan Companies, Infosys Technologies Ltd, Newmont Mining Corp, Fifth Third Bancorp, Pool Corporation, Alfa Laval, Webster Financial Corp, Blackstone, Financial Corp, PPG Industries, CSX Corp, CSX, Berkley Corp, Swift Transportation Holdings Inc, American Express Co, AutoNation Inc, Interpublic, of Companies, Autoliv Inc, Huntington Bancshares, Financial Corporation, Roper Technologies, Comerica, Jim Cramer's Charitable, CNBC, Getty Locations: U.S, Las, ZION, Horton, Freeport, Marsh, ALFVY, W.R, Lemont , Illinois

☆ Wall Street Recession: Stock Market Crash Predictions Are Wrong
▼ + stars: | 2023-07-05 | by ( Neil Dutta | ) www.businessinsider.com time to read: +11 min

Wall Street analysts and economists have always had a tendency to fall in love with their forecasts. This stubbornness helps explain why Wall Street is having an exceptionally hard time letting go of the idea that a recession is just around the corner. Despite the year-plus in which analysts have been arguing that a recession is imminent, none of the arguments behind the predictions stand up to scrutiny. Bear growlsOver the past year, Wall Street pessimists' reasons for an approaching recession have shifted. The drag from the US housing market is fading.

Persons: doomsayers, it's, Neil Dutta Organizations: Street, Federal Reserve, Fed, Macro

☆ What could break as interest rates rise?
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +5 min

Sweden, where rates rose again on Thursday, is one to watch with most homeowners' mortgages moving in lockstep with rates. Reuters Graphics2/ REAL ESTATE: PART 2Having taken advantage of the low rates era to borrow aplenty and buy up property assets, the commercial real estate sector is grappling with higher debt refinancing costs as rates rise. "The single most important thing is interest rates. But not just interest rates; what it is equally important is the predictability of rates," said Thomas Mundy, EMEA head of capital markets strategy at real estate firm JLL. "If we were settled on an interest rate, real estate prices could adjust.

Persons: Richard Portes, Thomas Mundy, Banks, Florian, Ielpo, Jerome Powell, Markus Allenspach, Julius Baer, Nick Kraemer, Wagner, Vladimir Putin's, Putin, Tina Fordham, Chiara Elisei, Naomi Rovnick, Nell Mackenzie, Karin Strohecker, Vincent Flasseur, Kripa Jayaram, Sumanta Sen, Pasit, Dhara Ranasinghe, Alison Williams Organizations: International Monetary Fund, Reuters, Federal, Finance, London Business School, Lombard, Federal Reserve, Casino, Sweden's SBB, Fordham Global Foresight, Thomson Locations: Britain, Norway, Russia, Sweden, lockstep, London's, City, RUSSIA, Ukraine

☆ US pending home sales fall to five-month low in May
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

Economists polled by Reuters had forecast pending sales, which become sales after a month or two, falling 0.5%. Pending home sales tumbled 22.2% in May on a year-on-year basis. "Despite sluggish pending contract signings, the housing market is resilient with approximately three offers for each listing," said NAR Chief Economist Lawrence Yun. The housing market, which has taken the biggest hit from the Federal Reserve's fastest monetary policy tightening cycle since the 1980s, appears to have found a floor. While the tight supply is weighing on the market for previously owned homes, it is boosting construction and sales of new houses.

Persons: Lawrence Yun, Lucia Mutikani, Andrea Ricci Organizations: National Association of Realtors, Reuters, Federal, Housing, Thomson Locations: Northeast, West

☆ Morning Bid: G4 central bankers speak, chips wars rumble
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +4 min

The picture was complicated further overnight as Tuesday's macro-driven rally in Wall St stocks was sideswiped by renewed Sino-U.S. trade tensions. AI darling Nvidia recoiled 4% (NVDA.O) in out-of-hours trade after reports Washington is considering new curbs on chip exports to China. But Wednesday's trading may well be dominated by news from a power panel at the European Central Bank's annual forum in Portugal. In currency markets, the dollar (.DXY) was firmer - especially against China's yuan , which hit a new low for the year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan Eyeing, Jerome Powell, Christine Lagarde, Kazuo Ueda, Andrew Bailey, disinflation, Joe Biden, Wall, General Mills, Mike Dolan, John Stonestreet Organizations: Nvidia, Central, Federal, Bank of Japan, Bank of England, Wall St, Japan's Nikkei, People's Bank of China, European Central Bank, Bank of, ECB, Treasury, Micron Technology, General, General Mills New, Thomson, Reuters Locations: U.S, Wall St, Washington, China, Portugal, Australia, Canada, Chicago, Shanghai

☆ US new home sales jump in May; median house price falls
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

Economists polled by Reuters had forecast new home sales, which account for a small share of U.S. home sales, slipping to a rate of 675,000 units. New home sales are counted at the signing of a contract, making them a leading indicator of the housing market. The housing market has likely found a floor and could be even improving. Economists say the signs of revival in the housing market suggested the Federal Reserve would need to keep raising interest rates. The housing market has been the biggest causality of the U.S. central bank's fastest rate hiking cycle since the 1980s.

Persons: Freddie Mac, Lucia Mutikani, Chizu Organizations: U.S, Commerce Department, Reuters, Housing, Thomson Locations: U.S, Northeast, South, Midwest

☆ Jim Cramer: Here's my outlook on stocks for the rest of 2023 — and how I'm playing it
▼ + stars: | 2023-06-25 | by ( Jim Cramer | ) www.cnbc.com time to read: +13 min

A 6% solution to no inflation from the stock market. But not enough, again, because of the wave of money that's now flowing through the sand of the economy. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: —, Jensen Huang, Jensen, ChatGPT, Leonardo Da Vinci, Tesla, Elon, let's, Jerome Powell, Powell, Joseph Stalin, dismissively, FANG, That's, Wall, LEN, Salesforces, Cook, Zuckerberg, Huang, Jim Cramer's, Jim Cramer, Jim, Jim Cramer Rob Kim Organizations: Apple, Microsoft, Nvidia, Treasury, Federal Reserve, Tesla, Fed, Boeing, Devices, Adobe, Toll, Royal, Holdings, Musk, Jim Cramer's Charitable, CNBC Locations: Ukraine, Royal Caribbean

☆ A notorious market bear who called the 2000 and 2008 crashes says stocks are set to suffer 'profound' losses as valuations remain at historic extremes — and dismisses the current rally as a 'narrow an
▼ + stars: | 2023-06-24 | by ( William Edwards | ) www.businessinsider.com time to read: +8 min

It also doesn't offer a fair characterization of the entire S&P 500's performance. Hussman's preferred valuation measure is total market cap of non-financial stocks to total revenue of non-financial stocks. According to Bank of America, 80% of the S&P 500's returns over a 10-year period can be attributed to valuations. The red line in the chart below shows the gauge, while the blue is the S&P 500's price action. Predicted in April 2007 that the S&P 500 could lose 40%, then it lost 55% in the subsequent collapse from 2007 to 2009.

Persons: John Hussman, Hussman, hasn't, Morgan Stanley, Mike Wilson, David Rosenberg, Solita, 18.5x, it's, Jeremy Grantham, Jeremy Siegel, Siegel, Michael Kantrowitz, Piper Sandler, Piper Sandler Kantrowitz Organizations: Hussman Investment Trust, Bank of America, Rosenberg Research, UBS, University of Pennsylvania, Housing

☆ 90% of people experiencing homelessness in California are from the state, rather than outsiders moving there for services
▼ + stars: | 2023-06-23 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

California is home to 30% of people experiencing homelessness and half of those unsheltered in the US. 90% of unhoused people in California lived in the state before losing their housing, the report found. The state makes up less than 12% of the nation's total population, but is home to 30% of people experiencing homelessness and half of the unsheltered population in the US. In reality, 90% of those experiencing homelessness in California lived in California before losing their housing, according to a major new study from the Benioff Homelessness and Housing Initiative at the University of California, San Francisco. The researchers surveyed 3,200 people across the state and conducted 365 in-depth interviews with adults experiencing homelessness between October 2021 and November 2022.

Persons: —, Dr, Margot Kushel Organizations: Service, Initiative, University of California, UCSF Homeless, Housing Initiative, UCSF Locations: California, San Francisco

☆ US jobless claims hold at 20-month high, existing home sales tick up in May
▼ + stars: | 2023-06-22 | by ( Dan Burns | ) www.reuters.com time to read: +6 min

The median expectation among economists polled by Reuters was for 260,000 new claims. The latest reading compared with a median economists' estimate of 1.782 million so-called continued claims. Existing home sales rose 0.2% to a seasonally adjusted annual rate of 4.3 million units last month, the National Association of Realtors said. Economists polled by Reuters had forecast home sales would fall to a rate of 4.25 million units. Home resales, which account for the largest share of U.S. housing sales, tumbled 20.4% on a year-on-year basis in May.

Persons: Thomas Simons, Simons, Jerome Powell, Lawrence Yun, Dan Burns, Chizu Organizations: Bureau of Labor Statistics, Reuters, Jefferies, Investors, National Association of Realtors, Economists, Mortgage, Association, Thomson Locations: Massachusetts, South, West, Northeast, Midwest

☆ Midwest American Cities Are Facing a Downtown Crisis, Urban Doom Loop
▼ + stars: | 2023-06-22 | by ( Eliza Relman | ) www.businessinsider.com time to read: +16 min

But Midwestern cities are also facing a crisis of their own — struggling to attract workers, residents, and visitors to their downtowns. Nine of the 13 Midwestern cities tracked in the study were in the bottom half of the rankings. In the early part of the 20th century, Midwestern cities boomed — attracting workers and families seeking out manufacturing jobs and education. Many Midwestern cities relied on a single industry or even a single company to buttress its economy. "If office workers are coming downtown less, but college students are willing to come downtown more, what about literally putting a college in your downtown?"

Persons: COVID, Michael Hicks, Jacob Frey, Salesforce, Karen Chapple, Hicks, Michael Siluk, Amanda Weinstein, Weinstein, weren't, it's, Tracy Hadden Loh, Hadden Loh, It's, they've, you've, Chapple, Edwin Remsberg, downtowns, I've, —, Columbus, Keyvan Esfarjani, Eliza Relman Organizations: metros —, metros, Ball State University, University of Toronto, St, of Cities, Midwest, University of Akron, Brookings Institution, Institution, Arizona State University, Cleveland, Housing, While Ohio, Ohio State University's, Intel Locations: San Francisco, Seattle, Indiana, Midwest, Louis, Indianapolis, Minneapolis, Cleveland, Kansas City , Missouri, Detroit, Akron, leafier, downtowns, Lake Erie, Burke, Downtown, Kansas, Chicago, Columbus, While, Ohio

☆ Low U.S. housing inventory is opportunity for home builders to gain market share: KBW's Jade Rahmani
▼ + stars: | 2023-06-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLow U.S. housing inventory is opportunity for home builders to gain market share: KBW's Jade RahmaniJade Rahmani, KBW Managing Director, joins 'Closing Bell Overtime' to discuss KB Home's earnings, the U.S. housing market, and the home builders sector.

Persons: Jade, Jade Rahmani Organizations: KBW Locations: U.S

☆ Gold flat as markets await Powell's testimony for rate cues
▼ + stars: | 2023-06-21 | by ( ) www.cnbc.com time to read: +2 min

Gold prices moved in a tight range on Wednesday after two-straight sessions of declines, as investors refrained from making large bets ahead of U.S. Federal Reserve Chairman Jerome Powell's congressional testimony. Spot gold held its ground at $1,936.03 per ounce by 0504 GMT. In this light, Chairman Powell's testimony could have a major short-term impact on the market," said Clifford Bennett, chief economist at ACY Securities. "For the moment gold is under the great interest rate threat hammer, but the very real on-going strong jewelry and manufacturing demand should eventually win the day," Bennett added. Among other precious metals, spot silver fell 0.4% to $23.0973 per ounce, platinum shed 0.6% to $957.16, and palladium lost 0.3% to $1,375.37.

Persons: Jerome, Powell's, Clifford Bennett, Powell, Bennett, Michael Langford Organizations: U.S . Federal, ACY Securities, U.S . House Financial, Federal Reserve, Traders, U.S ., Scorpion Minerals Locations: U.S, Washington, Asia

☆ Dollar finds footing on housing data as yuan falters
▼ + stars: | 2023-06-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SummarySummary Companies U.S. housing starts surge; dollar drifts higherTraders await UK CPI and Powell testimonySINGAPORE, June 21 (Reuters) - The U.S. dollar was firm in Asia trade on Wednesday following surprisingly strong U.S. housing data, while the yuan and Aussie dollar nursed losses and focus turned to Federal Reserve Chair Jerome Powell's appearance before Congress later in the day. The yen was also firm at 140.50 per dollar ahead of an appearance by Bank of Japan Governor Kazuo Ueda on Wednesday. The Aussie and yuan were Tuesday's largest losers and were in no mood for a bounce early on Wednesday. The yuan fell about 0.3% overnight and in offshore trade early on Wednesday the currency was pinned at 7.1826 per dollar, near a seven-month low. It is under pressure after the central bank flagged it was finished with hikes, while data showed the economy in recession.

Persons: Powell, Jerome Powell's, they'd, Kazuo Ueda, Li Qiang, Tuesday's, Joe Capurso, steadying, Mieneke Perniskie, Sterling, Daniela Hathorn, Bitcoin, Citadel Securites, Charles Schwab, Tom Westbrook Organizations: CPI, U.S, Federal, Traders, Bank of Japan, Commonwealth Bank of Australia, New Zealand, Bank of England, Fidelity, Citadel, Thomson Locations: SINGAPORE, Asia, China, Europe, Kiwibank, Wellington

☆ With more than $1 billion in deals in the works, Wall Street is poised to get back into the home buying game
▼ + stars: | 2023-06-21 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Wall Street landlords raised $110 billion to buy homes but have had a quiet year. One large transaction, and one large listing, could signal that investors are ready to start buying. The single-family rental market, a popular playground of Wall Street landlords in 2020 and 2021, has been in a deep-freeze for the last year. Rising borrowing costs and a shakier housing market halted most transactions, leaving idle much of the $110 billion raised to buy homes. The company, which was valued at nearly $2 billion last year, says it has facilitated more than $5 billion in deals.

Persons: dealmaking, Goldman Sachs, Don Mullen, DR, Barry Sternlicht's, redemptions, Gary Beasley, Roofstock, Allison Arest, Topping, Beasley, Morgan Stanley's, Ellen Zentner, Jay Powell, LeMaistre, everybody's Organizations: Bloomberg, Barry Sternlicht's Starwood Group, Fed Locations: Beach

☆ Oil extends declines on China growth woes, firmer dollar
▼ + stars: | 2023-06-21 | by ( ) www.cnbc.com time to read: +2 min

Oil prices weakened on Wednesday, extending falls to a third straight day, as the dollar strengthened on a U.S. housing market recovery while fears persisted that monetary stimulus may not be enough to revive growth in China. A firmer dollar weighs on oil demand as it makes the commodity more expensive for buyers holding other currencies. The market remains concerned about a faltering recovery in China, the world's top oil importer. "Investors remained impatient with China's efforts to boost economic growth," ANZ Research said in a client note on Wednesday. Five analysts polled by Reuters estimated on average that crude stockpiles fell by about 400,000 barrels in the week to June 16.

Persons: Brent, homebuilding, Jerome Powell, Powell Organizations: Montebello Oil, . West Texas, Federal, Investors, ANZ Research, U.S . Federal, Federal Reserve, Market Committee, Traders, American Petroleum Institute, Energy, Administration, Reuters Locations: Montebello, Montebello , California, U.S, China, Washington

☆ Mega-merger gives Indian lender new lease on life
▼ + stars: | 2023-06-20 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

HDFC Bank (HDBK.NS), the country’s largest private lender, is set in July to complete its merger with its parent, partner and 26% shareholder Housing Development Finance Corporation (HDFC) (HDFC.NS). That’s a great opportunity for the larger, streamlined HDFC Bank – until now it sold most home loans it originated to its parent. However, the share of mortgages in HDFC Bank’s portfolio will rise close to 30%, compared to SBI’s 20%. HDFC Bank remains a fixer-upper in a couple of important respects, though. Housing Development Finance Corporation created HDFC Bank in 1994 and remains a 26% shareholder.

Persons: Sashidhar Jagdishan, That’s, HDFC, Jagdishan, Breakingviews, Srinivasan Vaidyanathan, Antony Currie, Thomas Shum Organizations: Reuters, HDFC Bank, Housing Development Finance Corporation, –, Bank of India, Mahindra Bank, Reserve Bank of India, Thomson Locations: MUMBAI, Asia, China, United States, watchdogs, Credila

☆ Morning Bid: US housing rebound, China prime cuts
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +4 min

The main macroeconomic news overnight was a rather underwhelming Chinese rate cut that seemed to disappoint the local stock and currency markets, both of which fell. The People's Bank of China cut two benchmark lending rates - its one-year and five-year loan prime rates - by 10 basis points each. With Goldman Sachs on Monday the latest to cut China growth forecasts for this year and next, nerves about the economy's trajectory are rising again. The big U.S. data input this week is from the housing sector, where signs of some recovery are reinforcing 'soft landing' hopes for the wider economy. On Monday, the NAHB's house market sentiment index rose in June to its highest in almost a year and far above forecasts.

Persons: Mike Dolan, Goldman Sachs, Xi Jinping, Antony Blinken, Joe Biden, what's, BOE, Jerome Powell, Michael Barr, John Williams, St Louis, James Bullard, Narendra Modi, Susan Fenton Organizations: Nasdaq, People's Bank of China, Washington, China's, of, Global, Bank of, Federal Reserve, FedEx, Philadelphia Fed, Federal, New York Fed, St, St Louis Fed, Indian, United States Reuters Graphics Reuters, Thomson Locations: U.S, China, Xi, Europe, Britain, Switzerland, Norway, Turkey, Bank, Bank of England, United

☆ These are the 10 most expensive metro areas in the U.S. for renters—4 of them are in California
▼ + stars: | 2023-06-19 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

The New York City tri-state area ranked as the most expensive on the list. While the average rent in Newark is $1,850 and $2,500 in Jersey City, in New York City it is $3,610, according to Zillow's rental manager. The metro area of New York City, N.Y., Newark, Jersey City, N.J ranked as the most expensive for renters. 2 on the list is the Miami, Fort Lauderdale and Pompano Beach, Florida metro area. The Oxnard, Thousand Oaks and Ventura area in California ranked third on the list.

Persons: Payscale, Alexander Spatari, John Elk Iii Organizations: New, Urban, Washington D.C, The New York City, Thousand Oaks, Bank, Getty Locations: New York City, N.Y, Newark, Jersey City, N.J, Miami, Fort Lauderdale, Pompano Beach, Fla, Oxnard, Thousand Oaks, Ventura, Calif, San Diego, Chula Vista, Carlsbad, Urban Honolulu, Hawaii Los Angeles, Long Beach , Anaheim, Napa , Calif, Naples, Marco Island, Washington, Arlington, Alexandria, Virg . Bridgeport , Stamford , Norwalk, Conn, Pompano Beach , Florida, Florida, California

☆ Stock futures inch lower as investors kick off holiday-shortened week of trading: Live updates
▼ + stars: | 2023-06-19 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Stock futures ticked lower on Monday evening as investors looked ahead to a holiday-shortened week of trading. Futures tied to the Dow Jones Industrial Average slipped 93 points, or 0.3%, while S&P 500 futures pulled back 0.2%. Investors were seemingly receptive toward the central bank's decision to skip a June rate hike last week. Investors are trying to gauge how last week's strong market sentiment will hold up in a shortened trading week that is light on economic data. New York Fed President John Williams will appear with Fed Vice Chair for Supervision Michael Barr at a corporate governance event in New York City on Tuesday.

Persons: —, Jerome Powell, John Williams, Michael Barr, Powell Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Federal, Fed, Housing, New York Fed, FedEx Locations: New York City

☆ In the Age of Trump, It’s Hard to Be Humble - The New York Times
▼ + stars: | 2023-06-17 | by ( Nicholas Kristof | ) www.nytimes.com time to read: +15 min

OK, now wait, listen, when I hear the words “housing policy,” I tend to sort of doze off. And I’m talking, like, the most regressive, meaning, Texas, which is the conservative bastion of anti-taxes, is more progressive than Washington State, liberal Washington State. So over here in Illinois, which is the quintessential liberal state, there’s this one county that contains the city of Chicago. Blue states are the places where tens of thousands of homeless people are living on the streets. Blue states are the places where economic inequality is increasing most quickly in this country.

Persons: I’ve, they’ll, there’s, Binya Appelbaum, He’s, There’s, it’s, ” “, Binya, ”, “, they’re, Don’t, — you’ve, Let’s, Bill Gates, Jeff Bezos, It’s, you’re, don’t, We’re Organizations: Republican, Times, Democratic Party, Republican Party, House Democrats, City Council, Palo Alto, Washington State, Democratic, Republicans Locations: U.S, America, California, San Diego County, Palo Alto, Calif, San Francisco, Palo, Washington State, Texas, Washington, Nevada, Illinois, Chicago, Cook County, Connecticut

☆ Why economists say it's a near certainty that housing inflation will soon fall
▼ + stars: | 2023-06-14 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

That gives housing an outsized influence on the overall direction of inflation data. Housing inflation has been stubbornly high for months, according to CPI data. But economists think it has peaked and is on the precipice of a reversal. "I know this with about as high a degree of confidence as one could have," Mark Zandi, chief economist at Moody's Analytics, said of falling housing inflation being near at hand. The latest CPI reading, issued Tuesday, showed a monthly increase in shelter inflation, to 0.6% in May from 0.4% in April.

Persons: Richard Newstead, Mark Zandi, Andrew Hunter, Jason Furman, Obama Organizations: Moody's, Capital Economics, CNBC, Finance, Social Security, U.S . Bureau of Labor Statistics, BLS, Harvard University, White House Council, Economic Advisers, Twitter, CPI

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