SVCP Team

U.S. home sales unexpectedly rose to a 17-month high in August for a second straight month of gains, the latest sign that lower mortgage rates are encouraging buyers off the sidelines.

U.S. homebuilding surged to more than a 12-year high in August as both single- and multi-family housing construction accelerated, suggesting that lower mortgage rates were finally providing a boost to the struggling housing market.

Confidence among the nation’s homebuilders rose 1 point to 68 in September in the National Association of Home Builders/Wells Fargo Housing Market Index – well above expectations and the highest level of the year.

U.S. manufacturing output increased more than expected in August, boosted by a surge in machinery and primary metals production, but the outlook for factories remains weak against the backdrop of trade tensions and slowing global economies.

U.S. retail sales increased more than expected in August, pointing to solid consumer spending that should continue to support a moderate pace of economic growth.

Investors have been piling back into stocks and unwinding massive bets on haven assets, illustrating renewed faith that a resilient U.S. consumer can continue powering economic growth.

U.S. services expanded at a stronger pace in August, driven by an uptick in business activity and new orders.

Company payrolls surged by 195,000 in August, well above Wall Street estimates and at a time when fears have been growing about a looming recession, according to a report Thursday from ADP and Moody’s Analytics.