Homebuilder confidence falls

Market Overview
Read time 0.8 minutes

Year To Date Performances:

1. This month marked the first dip in homebuilder confidence for the entire year. The NAHB Housing Market Index, which had been on a seven-month upward trend, unexpectedly fell from 56 to 50. Notably, values below 50 signify unfavorable sales conditions. This decline brings the index to its most modest level since May, ending its rise that had peaked to the highest since June 2022. Factors contributing to this weakened confidence include escalating construction expenses, a lack of available workers and building materials, and notably, mortgage rates surpassing the 7% threshold.

2. In July, retail sales witnessed a notable surge of 0.7%, surpassing the anticipated 0.4% growth and registering the swiftest pace of increase since January, both monthly and year-over-year. E-commerce spending played a pivotal role, rising by 1.9%, a momentum significantly propelled by Amazon's Prime Day, fostering growth across numerous goods and services categories. When setting aside factors like food, autos, building materials, and gas stations, the core group sales also exhibited the most substantial growth since the beginning of 2023.

3. This will erase your pain (better than Ibuprofen). You don't need to just alleviate your pain- you need to fight INFLAMMATION. That’s why researchers are saying this one natural food is outperforming Ibuprofen, Advil, and Tylenol...*

4. Headlines

   1. Fund Managers have a brighter outlook on markets according to Bank of America’s latest Survey.

   2. US regulators have approved Coinbase’s plan to start offering crypto futures as a trading option on their platform.

   _{* This is sponsored content.}