ECONOMIC CALENDAR:Monday: U.S. markets closed for Labor Day Holiday Tuesday: ISM Non-Manufacturing Index Wednesday: JOLTS, Beige Book Thursday: Jobless Claims, EIA Petroleum Status Report
- Consumer confidence surges. A measure of how confident Americans feel about the economy rose to its highest level in nearly a year, suggesting that consumer spending may support growth this quarter.
- Auto sales remain brisk. Sales of U.S. cars and trucks were still healthy in August, but lagging activity at Ford and GM made analysts worry that total volume is declining from its blistering 2015 pace.
- Factory orders up in July. Orders to U.S. manufacturers rose to the highest level in nine months in July. However, much of the increase was due to volatile orders for aircraft, indicating the surge may be temporary.
- Mortgage applications up 2.8%. Overall mortgage applications were up last week as interest rates remained stable. However, refinancing activity should be higher given rates near record lows.
Quote Of The Week
“If the world is cold, make it your business to build fires.” – Horace Traubel