Fannie Mae boosts 2020 housing forecast ‘significantly’
Fannie Mae’s Economic and Strategic Research Group predicts builders will expand production more than previously expected, due to a strong labor market and robust consumer spending. Low mortgage rates will also help.
US housing starts rise more than expected, with permits at a 12-1/2-year high
U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy.
China to target around 6% growth in 2020, step up state spending: sources
China plans to set a lower economic growth target of around 6% in 2020 from this year’s 6-6.5%, relying on increased state infrastructure spending to ward off a sharper slowdown, policy sources said.
Home builder confidence soars to highest level since 1999
The National Association of Home Builders’ monthly confidence index increased five points to 76 in December from an upwardly-revised 71 the month prior, the trade group said Monday. December’s figure represents the highest index reading since June 1999.
Bank of America CEO Brian Moynihan says confident consumers are spending 5.5% more this year
Bank of America CEO Brian Moynihan said Wednesday the lender’s customers spent about 5.5% more this year over 2018, a bullish sign for the U.S. economy.
TV Industry Suffers Steepest Drop in Ad Sales Since Recession
Global TV advertising sales fell almost 4% in 2019, the steepest drop since the depths of the economic recession in 2009, in the latest sign that advertisers are following viewers to the internet.
U.S. banks’ reluctance to lend cash may have caused repo shock: BIS
The unwillingness of the top four U.S. banks to lend cash combined with a burst of demand from hedge funds for secured funding could explain a recent spike in U.S. money market rates, the Bank for International Settlements said.
China’s potential growth below 6% over next five years: central bank adviser
China’s potential economic growth will be below 6% over the next five years, an adviser to China’s central bank said on Saturday.
U.S. Consumer Sentiment Hits Seven-Month High Amid Stocks Cheer
U.S. consumer sentiment rose to a seven-month high as record stock prices bolstered optimism and Americans’ buying attitudes improved, adding to renewed economic cheer following a robust jobs report.
Goldman’s David Kostin on his 2020 stock market outlook
David Kostin, Goldman Sachs chief U.S. equity strategist, joins “Squawk on the Street,” to discuss the market’s big move lower after President Trump’s comments that he might strike a trade deal with China only after the US presidential election in November 2020.