June 16, 2017
In the latest bad news for the economy, sharp and unexpected weakness in housing starts and permits points to a downgrade for the housing sector. Consumer sentiment also proved weak, posting its least optimistic reading since November last year and hinting at another month of trouble for consumer spending.
Stocks were little changed with the Dow posting a fractional gain to 21,364 on the day but a constructive 0.5 percent gain on the week. Other markets were also little changed except oil which, despite a small gain in today's trading to $44.69, ended the week down 2.6 percent and under $45 for the first time since April last year.