ECONOMIC CALENDAR:Tuesday: Productivity and Costs Wednesday: JOLTS, EIA Petroleum Status Report, Treasury Budget Thursday: Jobless Claims, Import and Export Prices Friday: Retail Sales, PPI-FD, Business Inventories, Consumer Sentiment
- Motor vehicle sales miss expectations. July sales of cars and trucks by major U.S. automakers slipped as pent-up demand slackened.
- Consumer spending increases more than expected. Spending by American consumers rose more than expected in June, suggesting consumption remained strong throughout the second quarter.
- Factory orders fall. New orders for manufactured goods fell in June for the second month in a row, though stabilizing business spending offers some hope.
- Construction spending falls to one-year low. Spending on construction projects fell in June, suggesting a downward revision to second-quarter economic growth may come.
Quote Of The Week
“Hold yourself responsible for a higher standard than anybody else expects of you. Never excuse yourself.” – Henry Ward Beecher