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Lots of Tariff Talk {Market Report} July 9th

Lots of Tariff Talk {Market Report} July 9th
July 17, 2018 abryant

 

My mind is like my internet browser…at least 19 open tabs. 3 of them are frozen…and I have no clue where the music is coming from.

I wonder what my kids are going to tell their kids…”It was so rough in my day, I didn’t get a phone ’til 4th grade and sometimes the wi-fi didn’t always work upstairs.”

I’m just someone, standing in front of a salad, asking it to be a donut.

I’m so glad I grew up when I did, today’s cartoons are terrible.

 

Now The Market Report . . .

 

Manufacturing activity surged in June, as companies accelerated production in advance of expected tariffs.

Stocks continue to suffer as concerns remain about the effect of tariffs on trading. Apprehension about a trade war isn’t helping mortgage rates much either.

The labor market appears to be near full strength, even as weekly jobless claims were up last week. The jobless rate is at an 18-year low of 3.8%.

 

Overall construction spending was up 4.5% year-over-year in June and 0.4% over May. For residential construction, spending was up 0.8%.

Single-family home construction spending was up 8.2% in June over the previous year. Multi-family housing spending was also up 4.2% year-over-year.

Millennials really do want to be homeowners. In a recent survey, 36% of the 500 respondents reported taking a second job to save for a down payment.

 

I used to be a mortgage banker, but then I lost interest.

 

This week’s potential market moving reports are:

 

Monday July 9th:           Consumer Credit

Tuesday July 10th:        JOLTS Report

Wednesday July 11th:   Producer Price Index, MBA Applications

Thursday July 12th:       First Time Jobless Claims, Consumer Price Index

Friday July 13th:            Consumer Sentiment

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