On the SPOT™ blog (07/19/2023) [B..]

This morning's housing data showed sharp drop in starts of new home construction in June. Home builders seem to be adaptive in gauging demand as they focus on completing the already started home constructions. This is another piece of data that is raising optimism about Feds tough fiscal policy. Banks have not disappointed so far albeit it looks like Goldman Sachs missed profit estimates. All three major US indices appear to be in the green this morning (PST).

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