Economic and market updates
Economic Update for July 25, 2016
Highlights of news-making events of the past week, from the economy and profits to Europe and interest rates.
The Commerce Dept. found housing starts increased 4.8% in June. The NAR reported existing home sales climbed 1.1% in June. The Conference Board's Leading Economic Index rose 0.3% in June. The Markit Economics Flash Japan Manufacturing PMI rose to 49.0 in July from 48.1 in June.
Initial jobless claims fell by 1,000 to 253,000 in the week ended July 16, 2016, according to the Labor Department. The four-week moving average was 257,750.
As of July 13, 2016, of the 36 S&P 500 companies reporting second-quarter earnings, 23 beat analysts' estimates, according to S&P Dow Jones Indices.
The Bloomberg Consumer Comfort Index dropped to 42.9 in the week ended July 17, 2016, from 44.7 in the prior week.
The Markit Economics Flash Eurozone PMI Composite Output Index slipped to 52.9 in July from 53.1 in June. The European Commission's Flash Consumer Confidence Indicator fell in July. Germany's Federal Statistical Office noted producer prices declined 2.2% in June. The ZEW Indicator of Economic Sentiment for Germany declined sharply in July.
The yield on the 10-year U.S. Treasury note declined. The European Central Bank Governing Council voted to hold rates steady.
- Geopolitical risk in the Middle East
- Tightening corporate credit conditions in the United States
- Challenges to growth in Europe after Brexit vote
All economic and performance information is historical and does not guarantee future results. The views and opinions expressed are those of Putnam Investments, are subject to change with market conditions, and are not meant as investment advice.
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