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Oil prices gushed higher today after the Organization of Petroleum Exporting Countries (OPEC) said that it will cut production in an effort to curtail the oversupply of oil in circulation around the globe. OPEC said that it will decrease production by 1.2 million barrels per day by OPEC producers...
After weak economic growth to begin 2016, the Bureau of Economic Analysis reported that the second reading of third quarter Gross Domestic Product surged ahead by 3.2%, the fastest pace in two years. The 3.2% was above the first reading of 2.9% and just above the expected 3.0%. Within the report ...
The National Retail Federation (NRF) reports that 154 million consumers spent their hard-earned dollars over the Thanksgiving Day weekend, as the unofficial holiday shopping season kicked off. Americans spent an average of $289, down from $300 last year and were reeled in by blockbuster bargains ...
The Commerce Department reported on Wednesday that New Home Sales unexpectedly declined in October from September to an annual rate of 563,000, below the 587,000 expected. September was revised lower to 574,000 from 593,000. The decline in October seems to be a temporary setback being that the jo...
The National Association of REALTORS® (NAR) reported on Tuesday that Existing Home Sales in October hit a 9.5-year high. Existing Home Sales rose 2% from September to an annual rate of 5.6 million units, above the 5.40 million expected. Year-over-year, sales are up nearly 6%. Lawrence Yun, NAR ch...
A recent survey from the Chicago Federal Reserve Bank showed that economic activity is running a bit below its potential. The Chicago Fed National Activity Index improved slightly in October, but the three-month average declined. The report said that factory production, housing and consumer spend...
Fed Chair Janet Yellen spoke on front of Congress yesterday on the U.S. economic landscape and monetary policy. Ms. Yellen confirmed the market concerns that inflation expectations would likely rise with President-elect Donald Trump’s economic plan and infrastructure spending plan. Ms. Yellen wen...
The wholesale inflation reading Producer Price Index (PPI) for October was unchanged versus the +0.3% expected, as reported by the Bureau of Labor Statistics. The decrease was led by higher costs of natural gas and gasoline, which were offset by a decrease in food prices and lower costs for servi...
The Labor Department reported on Friday that U.S. employers added 161,000 new workers in October, which was below the 175,000 expected. However, August and September were revised higher by a total of 44,000. Within the report it showed that the Unemployment Rate ticked down to 4.9% from 5.0%, In ...

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