Housing starts for August showed a 1.5% month-over-month increase to an annual rate of 598,000 units – inline with economist forecasts while last month’s data was revised up from 581,000 to 589,000.
The Philadelphia Fed’s Business Activity Index jumped to 14.1 in September from 4.2 last month. The index was only expected to reach a level of 8.0. This is the latest in a series of manufacturing reports showing that the sector is returning to life.
Details from Bloomberg...
The Dow Jones Industrial Average was down 8 points (0.1%) to close at 9,784, the S&P 500 Index decreased 3 points (0.3%) to finish at 1,065, and the Nasdaq Composite declined 6 points (0.3%) to 2,127. Crude oil rose $0.02 to $72.53 per barrel, and the Bloomberg gold spot price lost $4.10 to $1,013.20 per ounce.
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