Economy Continues to Grind Forward07-22-2014 |
Sources: Rates Data —Bloomberg Markets as of 7/21/14; Equity Market Returns and Fixed Income and Alternatives Data—Wells Fargo Advisers as of 7/21/14
Economy Continues to Grind Forward
The U.S. economy continues to show signs of strength as a variety of positive economic data releases have helped to somewhat offset the geopolitical concerns stemming from the latest Israeli-Palestinian crisis as well as the ongoing Ukrainian conflict. Today Existing-Home Sale data was released for the month of June and saw sales increase at an annual pace of 5 million. According to the National Association of Realtors these results are helping to “push overall supply towards a more balanced market.”
We, at Hennion & Walsh, are encouraged by the continued improvement in the housing market, which we believe will help drive future U.S. economic growth and provide the U.S. Consumer with confidence. CPI Data was also released today and increased 0.3 percent in June, adding to the 0.4 percent gain during May. With inflation now increasing at an annual pace of 2.1%, the Fed may start to feel more comfortable as they begin to embark on their tightening campaign.
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