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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
Commodity CalendarBB: June Durable Goods were better than expected at +6.5%, but ex transportation worse at only +0.2%.
WS: Initial Claims for the week ended 7/22 were 244K the same as their 4-week moving average which was unchanged from the week before.
BB: Libor, the benchmark underpinning more than $350 trillion of financial products, will be phased out by the end of 2021, as U.K. regulators and banks look to replace the scandal-tarred indicator with a more reliable system.
WednesdayWS: The Federal Reserve signaled it could launch its plan to slowly shrink its large bond portfolio after officials' next meeting in September and held short-term interest rates steady.
BB: June New Home Sales were as expected at 610K vs a revised own 605K in May, stabilizing near 10-year high. Median sales price fell 3.4% y/y to $310,800 as the supply of homes crept up to 272M new houses were on market at end of June
TuesdayBB: the July Consumer Confidence Index was higher than expected at 121.1 vs 118.9 in June, reflecting Americans’ sunnier views on both their current situation and outlook, a positive sign for the economy..
Gallup: Americans continued to express some confidence in the economy last week, with Gallup's U.S. Economic Confidence Index averaging +4. The index has remained between 0 and +5 for the past 13 weeks.
BB: The business climate in Germany, Europe’s largest economy, improved for a sixth month in July. The index, based on a survey of 7,000 German companies from manufacturing, trade and construction, rose to 116.0 from a revised 115.2 in June. .
MondayBB: June Existing Home Sales were less than expected at -1.8% to 5.52M annual rate, suggesting that lean inventories are keeping prices elevated and limiting purchasing options.
Economic Reports for the Week ending Friday July 28, 2017
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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