Conor Maloney
Initial Jobless Claims Rise Above Expectations, Price of Gold Drops
The number of Americans filing for unemployment benefits rose more than expected last week with 227,000 applications for the week ended June 22, according to the Labor Department.
Q1 GDP Revised Downward, Gold Prices Drop
Economic growth in the US economy during the first three months of the year was revised slightly downward in the government’s final GDP reading which was released on Thursday morning.
Durable Goods Orders Drop Below Expectations, Gold Price Ticks Downward
US durable goods orders dipped in May for the third time in four months, pulled down by a canceled order for the controversial Boeing 737 which was involved in multiple fatal crashes.
Home Sales Drop Unexpectedly for Second Month in a Row, Gold Price Rises
Sales of US single-family homes have dropped for a second straight month, defying market expectations of an increase. Lower mortgage rates introduced earlier in the year may be failing to stimulate the embattled housing market.
Flat Richmond Manufacturing Result in Troubled Sector
The Richmond Fed Manufacturing Index came in at 3 vs. 4 expected. The report follows other signs of weakness in the manufacturing industry with the Philly Fed Index nearing zero.
US Home Prices Rise In April
Home prices saw a 3.5% annual increase in April according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. The March index showed a 3.7% gain compared to March 2018.
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