U.S. megabanks are booking record quarterly profits from the roaring stock market.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Jul 21 2026
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HOME SALES DECLINED IN JUNE
In June, the number of homes for sale that went under contract fell 5.4 percent below the number in May and 0.3 percent below the number in June 2025, according to the National Association of Realtors (NAR).
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DIESEL FUEL’S PRICE CLIMBS BACK OVER $5 A GALLON
With the Strait of Hormuz effectively closed once again, the U.S. price of diesel fuel rose to $5.01 per gallon on 16 July, up seven cents from the day before and 33 percent higher than when the Iran War began on 28 February, The Wall Street Journal reported.
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MORE AMERICANS ARE BEING SUED BY DEBT COLLECTORS
Last year, the number of U.S. lawsuits creditors filed against individuals reached its highest since before the COVID War in 2020, according to a study of eight states’ court records by the Pew Charitable Trusts.
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CONSUMER SPENDING SLOWED IN JUNE AS IMPORT PRICES ROSE
In statistical terms, the rate of increase in U.S. consumer spending slowed in June compared to May.
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U.S. INFLATION RATE SLOWS SHARPLY IN JUNE
Inflation in the U.S. fell to 3.5 percent in June, year over year, dramatically slower than May’s 4.2 percent as the Iran ceasefire slashed oil prices and gasoline prices fell by about 10 percent, the biggest drop since 2022.
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AI REBRANDING TACTIC FALLS FLAT
Last April, Allbirds, a U.S. shoe company, decided to cash in on the AI frenzy by changing its name to Newbird AI.
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BIG STOCK SALES OVERWHELM INVESTORS, THREATEN THE BULL MARKET
In the last few weeks, equity markets have been swamped by deals of a size rarely seen.