Building Permits

Economic data released Thursday morning revealed slightly higher-than-expected weekly unemployment claims, sharp contractions in housing starts and building permits, and a drop in a business outlook survey within the Philadelphia Federal Reserve District. Thursday’s Economic Releases: Key...

Construction could be a major tailwind to economic growth in 2024 if homebuilding keeps pace with the rate at which it grew in November and demand for new homes remains robust. Housing starts surged by 14.8% to 1,560,000 in November, well above consensus expectations of 1,360,000, with an 18% surge...

In October 2023, the U.S. housing market displayed mixed signals, with new single-family home sales experiencing a downturn, even as building permits showed signs of resilience. Sales of new single-family homes take a dip: Sales of new single-family houses reached a seasonally adjusted annual rate...

In July 2020, lumber prices began to soar as the COVID-19 pandemic supply chain chaos kicked in. Surprisingly, lumber began rising before many other commodities such as wheat, corn, WTI crude oil, Brent crude oil and natural gas. Why This Matters: Lumber can be seen as a leading indicator...

The Past Week, In A Nutshell What Happened: Last week ended positively on news that a Pfizer Inc (NYSE: PFE) and BioNTech SE (Nasdaq: BNTX) COVID-19 vaccine was more than 90% effective in preventing the virus in participants without evidence of prior infection. Remember This: “We believe the...

The Past Week, In A Nutshell What Happened: Last week ended positive alongside vaccine optimism and a retail sales beat. Remember This: “Regardless of who may win the election, we think the continued economic rebound will support future equity gains,” said Ryan Detrick, chief market...

The Past Week, In A Nutshell What Happened: “It’s certainly been a wild ride for stocks in 2020,” noted researchers at LPL Financial. “Barely past the halfway point, the year has already brought the worst pandemic to hit the U.S. in over 100 years, an unprecedented...

Major indices crawled higher on light volume, which was to be expected. The Nasdaq to new highs that haven't been seen since September 2000, while the other major indices failed to hold on to earlier gains, but still finished in positive territory. On Thursday, the markets will take a much...

Futures Flat, Awaiting Cyprus Decision U.S. equity futures were flat in early pre-market trade as markets awaited a vote in the Cypriot parliament to decide if the recently discussed bailout passes. The President of Cyprus Monday cancelled a vote as the bailout legislation did not have enough...