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From the Desk

This daily newsletter conveniently delivers financial and economic commentary from around the globe, daily market rates and Bank announcements right to your inbox.

Recent 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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