Conor Maloney
Conor Maloney is a journalist with hundreds of articles covering financial markets and topics published on sites like Yahoo Finance and GoldPrice.org.
He is passionate about blockchain, cybersecurity, and financial independence, and he believes in gold as a viable alternative to fiat currency.
Follow Conor at @iWriteCrypto on Twitter.
New Home Sales Drop 8.9% in October
New home sales in the US plummeted almost 9% last month according to today’s report released jointly by the Census Bureau and Department of Housing and Urban Development, with rising costs of borrowing seeing sales drop to the lowest rate since March 2016.
Home Prices Lowest Since January 2017
The Case-Shiller S&P Index report released today shows that home prices have sunk to their lowest since January 2017, with rising interest rates impacting housing demand.
US Services PMI Shows Slowdown, Continued Growth
The Flash US Composite PMI data from IHS Markit has shown a moderate slowdown in growth in the services industry which is nevertheless described as healthy with a reading of 54.4 compared to last month’s 54.8.
US Markit Manufacturing PMI Hits 3-Month Low
The seasonally adjusted IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index has come in lower than expected with a reading of 55.4 compared to the predicted level of 55.7. This marks a 3-month low for the index which is used as a measure of the general health of the manufacturing industry.
Existing Home Sales Rise 1.4% in October, Down 5.1% Annually
Existing home sales saw a 1.4% boost last month compared to the decline seen the six months prior. National Association of Realtors data shows that 5.22 million units were sold in October compared to 5.15 million in September and a forecast October result of 5.2 million.
EIA Crude Oil Inventories up 4.9 Million Barrels
EIA Crude oil inventories saw another jump this week as supply continues to push prices down.
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