Consumer Confidence Drops in October, Remains High Overall
After reaching a 14-year high in March 2018 of 101.4, consumer confidence has slipped slightly from September’s figure of 100.1 to 98.6 in October according to a University of Michigan report released earlier today.
Pending Home Sales Boosted by 0.5%
The National Association of Realtors has released a report on pending home sales data which shows that contracts for the purchase of new homes are at a three month high, potentially signaling some good news for the embattled housing market.
New Jobless Claims up, Existing Claims Lowest in 45 Years
Gold prices were largely unaffected by the recent report from the U.S. Labor Department which revealed an increase in new employment benefits claims and a decrease in continuing claims.
Gold Prices Hold Steady After Manufacturing and Services PMI Increase
Gold prices face mild selling pressure after Tuesday’s three month high in the wake of today’s report on the US manufacturing and services purchasing managers index (PMI) which showed stronger-than-expected growth this month.
New Home Sales Drop 5.5% to Hit Two Year Low
The housing sector revealed further decline today following the recent report on existing home sales. Today’s report on new single-family home sales shows a 5.5% decline in sales which are at the lowest in almost two years. New home sales represent 9.7% of the overall housing market.
Richmond Fed Manufacturing Index Lowest Since April
Though in relative decline, the Richmond Fed Manufacturing Index still saw moderate expansion in October. The index is a composite representing a weighted average of the indexes for shipments (33%), new orders (40%), and employment (27%).
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