From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 7/18/2025
U.S. stocks opened higher Friday before turning negative as investors continue to digest corporate earnings reports. All three major averages were higher on Thursday, with both the S&P 500 and Nasdaq notching record high closes. All three major averages are also on track to finish the week higher.
Looking at economic data, housing starts rose 4.6% to an annual rate of 1.321 million in June, though starts are down 0.5% from June 2024. Single-family starts fell 4.6% in June to an annual rate of 883,000. Building permits were up 0.2% for the month to an annual rate of 1.397 million.
Elsewhere, the University of Michigan Consumer Sentiment Index moved higher to a reading of 61.8 in the preliminary July reading. Both the current conditions and expectations components were higher for the month. Year-ahead inflation expectations fell to 4.4%, down from 5.0% last month.
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