- Greek exit polls show left-wing win. Projections suggest that the left-wing Syriza party responsible for the debt showdown likely won Sunday’s elections. The win could mean that further austerity fights are in store for Greece’s creditors.
- Housing starts fall more than expected. Groundbreaking on new houses dropped more than projected in August, though permits for new construction rebounded, pointing to underlying strength in the housing market.
- Weekly jobless claims fall to multi-month low. The number of Americans filing new claims for unemployment benefits fell to the lowest level since mid-July, suggesting that the labor market continues to improve, though the data may be volatile due to the Labor Day holiday.
- Consumer prices fall. Prices on a range of U.S. goods and services fell last month as gasoline prices dropped again and the U.S. dollar gained strength. Falling inflation complicates the Fed’s decision on interest rate raises.
Quote of the Week
“A friendship founded on business is a good deal better than a business founded on friendship.” – John D. Rockefeller