May 31, 2017
The second quarter is not amounting to much for the housing sector at least as an unexpected decline in pending home sales points to trouble for final sales in May and June. And flat would be a generous description for the Beige Book where consumer spending, manufacturing, and inflation are all described as soft or moderate.
The Dow posted a fractional loss to 21,008 while the dollar index, once again reflecting strength in the euro, fell 0.4 percent to 97.03. Oil fell nearly $1.50 and is back testing support at $48.