The ISM services index decreased 1.2% from the prior month to land at 52.8% in January, the Institute for Supply Management said today. Readings over 50% indicate expansion. Fourteen industries tracked reported growth while three others reported decreases.
The House voted in favor of two bills to create a regulatory framework for payment stablecoins and digital assets. House members also voted in favor of a separate bill to ban the Federal Reserve from issuing a CBDC.
Business inventories in May came in at $2.66 trillion, virtually unchanged from the month prior but up 1.7% from a year ago, the Commerce Department said.
The rate for a 30-year fixed-rate mortgage was 6.75% this week. The rate for a 15-year fixed-rate mortgage was 5.92%.
A durable regulatory framework for stablecoins must balance the potential for enhancing payments with the need to limit negative economic consequences, promote financial stability and guard against consumer protection risks, ABA President and CEO Rob Nichols said in...
Builder confidence in the market for newly built single-family homes was 33 in July, up one point from June, according to the NAHB/Wells Fargo Housing Market Index. Builder sentiment has now been in negative territory for 15 consecutive...
There were $720.1 billion in retail and food service sales, an increase of 0.6% from the previous month, and up 3.9% from June 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes,...
