30-year fixed mortgage
US new home sales slump to six-month low in May
Sales of new U.S. single-family homes dropped to a six-month low in May as a jump in mortgage rates weighed on demand.
$18 billion
Biden Administration Announces Additional Tariffs On Chinese Imports
The Biden administration unveiled a new round of tariffs on $18 billion of Chinese imports. The White House said the tariff increases will protect American workers and businesses in response to China’s unfair trade practices.
10-year note
S&P, Nasdaq rise as fresh inflation data allays rate fears
A Labor Department report showed the PPI for final demand rose 0.2% in March, against forecasts of a 0.3% increase.
Americans
US weekly jobless claims unexpectedly fall; labor market gradually cooling
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week.
16 European countries
AI threatens wages, not jobs – so far, ECB paper finds
The rapid adoption of artificial intelligence could reduce wages, but so far is creating, not destroying jobs.
Anat Bracha
US jobs data may be miscounting millions of ‘gig’ workers, research suggests
Millions of “gig” workers may get missed every month in the U.S. government’s employment report.
Bureau of Labor Statistics
US weekly jobless claims at three-month high; import prices tumble
The number of Americans filing new claims for unemployment benefits increased to a three-month high last week.
Amazon
US retail sales dip; producer prices post biggest drop in 3-1/2 years
U.S. retail sales fell for the first time in seven months as motor vehicle purchases and spending on hobbies dropped.
alejandro booher
Economists express concerns over generational housing bubble
Several economist warn of a possible housing market collapse.
boycotts
Go Woke, Go Broke
Companies pandering to the woke agenda trigger calls for boycotts from conservatives.