Updates

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.

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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.

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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.

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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.

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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.

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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.

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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.

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The U.S. Economy Keeps Defying the Recession Odds

It’s impressive how well the U.S. economy has held up during the past year. As early as 2018, leading indicators were suggesting a heightened risk of recession in 2019 or 2020.

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China Financial Warning Signs Are Flashing Almost Everywhere

From rural bank runs to surging consumer indebtedness and an unprecedented bond restructuring, mounting signs of financial stress in China are putting the nation’s policy makers to the test.

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U.S. consumer spending increases steadily; inflation muted

U.S. consumer spending rose steadily in October, suggesting the economy will probably maintain its moderate pace of growth in the fourth quarter.

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