Michael Shedlock's picture

The Pending Home Sales Index declined 2.5% in November. Economists, who are generally surprised by everything, were caught off guard once again. Despite the fact that mortgage rates have been climbing for months, the economists...

Marc Chandler's picture

Japan stands out with industrial production in Nov. rising 1.5%, which is the most it has raised in five months. It was a little less than expected, but the expectations for Dec. (2%) and Jan. (2.2%) are constructive.

Charles Hugh Smith's picture

It will be the middle class that accepted the notion that "real estate is the foundation of family wealth" that will be stripmined by higher taxes on immobile assets such as real estate. 

Tom McClellan's picture

During the post-election stock market rally, there has been a huge push into ETFs, and especially into SPY. It is the largest of the ETFs tied to the SP500 Index. It is normal to see fluctuations over time, with total shares outstanding...

Michael Shedlock's picture

The BEA released its Third Estimate of Third Quarter GDP today. In the third estimate, GDP rose at 3.5% annualized, up from 3.2%.

Michael Shedlock's picture

As the once beloved Yuan sinks deeper and deeper into the sunset, Chinese Rush to Open Foreign Currency Accounts. US dollar strength is highly likely to reverse soon if indeed it has not already peaked. That does not necessarily...

Robert Rapier's picture

By now you have undoubtedly heard that late last month at OPEC’s 171st Ordinary Meeting in Vienna, the group announced that it would reduce output by about 1.2 million barrels per day (bpd) by January.

Kurt Kallaus's picture

Respected media icons, economists, hedge fund managers and self-aggrandized pundits have long predicted an immediate stock market crash and recession upon the astronomically remote odds of a Trump Presidency. Shark Tank’s...

Michael Shedlock's picture

Retail sales rose a mere 0.1% in November according to the Census Department Advance Monthly Retail Trade Report. The increase was against an October reading revised from +0.8% to +0.6%. Effectively, sales declined, led by autos.

Adrian Ash's picture

Gold prices sank to new 10-month Dollar lows Thursday as the US currency surged and Asian stock markets followed Wall Street lower after the Federal Reserve raised its key interest rate for the second time in 12 months.

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