US home equity is back, so why aren’t more people borrowing?
The Commerce Department said Friday that durable goods orders fell 0.7 percent in April after rising 2.3 percent in March. The April downturn was the first since durable goods orders fell 4.6 percent in November.
As the meeting of leaders from seven wealthy democracies gathered for difficult talks on trade and climate change, Germany’s Der Spiegel reported that Trump had told EU leaders the day before that the Germans were “bad, very bad.”
“Growth is bouncing back in the second quarter,” said Gus Faucher, chief economist at PNC. “Consumer spending continues to expand with job and wage gains, and business investment is picking up, especially for energy-related industries.”
House GOP health bill projection: 23 million more uninsured
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KEEPING SCORE: In Europe, Germany’s DAX was down 0.1 percent at 12,626 while the CAC 40 in France was flat at 5,340. The FTSE 100 index of leading British shares was also steady at 7,512. Wall Street was poised for a slightly perkier opening, with Dow futures and the broader S&P 500 futures up 0.3 percent.
“You know the world’s changed a lot in the last decade,” said Rep. John Shimkus, R-Ill., a senior member of the House energy committee. “We’re one of the largest oil producers in the world.”
THE NUMBERS: Applications for weekly unemployment aid rose 1,000 to 234,000, the Labor Department said Thursday. The four-week average, a less volatile figure, fell 5,750 to 235,250. That’s the lowest level since April 14, 1973.