US Housing Starts, Completions Rise in February, but Authorizations Decline
(Census Bureau) US housing starts for privately-owned units rose by a monthly 6.8% to an annual rate of 1.769 million in February and were up 22.3% from the prior year.…
US 30-Year Mortgage Tops 4%, the Highest in Nearly 3 Years
(WSJ) US average rate for a 30-year mortgage is 4.16%, the first time it has surpassed the 4% mark since May 2019. The rise in mortgage rate suggests that the…
US Manufacturing Activity Improves to the Highest in 4-Months in March
Source: Philadelphia Fed The diffusion index, gauging the current general activity in the US Manufacturing was recorded at 27.4 in March, up 11 points and the highest since November last…
US Jobless Claims Slide by 15,000 to a More Than 2-Month Low
(Department of Labor) The US jobless claims were recorded at 214,000 in the week that ended March 12, a two-and-half-month low, after a decline of 15,000 from the previous week.…
Euro Area Annual Inflation Beats Estimates to Rise to 5.9% in February
(Eurostat) Annual inflation rate rose to 5.9% in February from 5.1% the previous month, beating expectations of 5.8%. The inflation was a significant jump from 0.9% a year ago. In…
Robinhood Users Will Soon Be Able to Lend Out Stocks in Upcoming Feature
(Bloomberg) Robinhood Markets Inc. has initiated a plan to allow users on the platform to loan out their stocks to other financial entities. Dubbed the Stock Loan Income Program or…
Ukraine Legalizes Crypto as War Donations Top $100 Million
(Twitter) Ukrainian President Volodymyr Zelenskyy has signed into law a bill on virtual assets, making cryptocurrencies legal in the country. The legalization means that exchanges will operate legally in the…
Fed Delivers on the Promise to Increase Rate in March, Hikes by 0.25 Basis Points
(Fed) The US Federal Reserve has embarked on gradual policy tightening by hiking the interest rates by a quarter percentage point or 25 basis points. The benchmark rate will now…
Kohl’s Stock Jumps 16% on Reports on a Takeover Bid by Hudson’s Bay
(Axios) Shares of Kohl’s rose more than 16% on Wednesday after reports emerged that the company was a target of a buyout by departmental store Hudson’s Bay. The reports of…
EIA Reports a 4.3M Barrels Rise in US Crude Oil Inventories
(EIA) US stockpiles of crude oil rose by 4.3 million barrels to 415.9 million barrels in the week that ended March 11. Total motor gasoline inventories fell by 3.6 million…
Builder Confidence Slips in March as Material Constraints Bite
(NAHB) The US builder confidence for newly constructed single-family homes dropped two points to 79 in March, marking the fourth straight month of decline. The decline happens amid an ongoing…
US Retail Sales Cool to a Marginal 0.3% Increase in February
(Census Bureau) US retail purchases rose by a modest 0.3% to $658.1 billion in February, compared to a higher 4.9% gain the previous month. The increase in retail sales was…
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