Lockheed Martin, the world’s largest defense contractor, reported second-quarter net profits of $1.68 billion, compared to just $309 million for the same period last year and exceeding predictions among economists surveyed by FactSet.
Category: TRENDS ON THE U.S. ECONOMIC FRONT – Jul 25 2023
Newly built homes made up almost a third of houses for sale in the U.S. in May, compared to the usual 10 to 20 percent, according to the National Association of Realtors (NAR).
Two key surveys of consumers’ views of the economy both posted their most positive results in 18 months or more.
Stock-watchers expect a raft of disappointing second-quarter earnings reports from tech firms, luxury retailers, and other companies dependent on China, according to Reuters.
After closing at 99.91 on 17 July, the U.S. dollar regained little ground against an assortment of other major currencies, trading at 101.08 at 5 p.m. U.S. EDT on 21 July.
At this point in the stock market game, it’s all about interest rates.
In the U.S., the bet on The Street is that following the Fed’s meeting on Wednesday, there is a 98-percent probability that the central bank will raise interest rates 25-basis points, according to the CME FedWatch Tool.
Sales of existing homes, which normally make up most of the housing market, dropped 3.3 percent in June from May to 4.16 million units, down 18.9 percent from a year earlier and the slowest sales pace since January, the National Association of Realtors reported.