U.S. Pending Home Sales Unexpectedly Tumble To Six-Month Low
rttnews·- The National Association of Realtors reported that pending home sales in the United States unexpectedly fell by 2.3% in July to 71.2, reaching a six-month low. - This decline follows a downwardly revised 4.8% drop in June to 72.9. - Economists had previously anticipated a rebound with a 1.4% increase instead of the further contraction.U.S. national debt about to reach bleak $40 trillion milestone - and it's likely hit $50 trillion soon
MarketWatch·- The U.S. national debt is approaching $ 40 trillion, with Bank of America strategist Michael Hartnett predicting it will reach $ 50 trillion by July 2029. - Annual interest servicing costs have reached $ 1.5 trillion, reinforcing market sentiment against fixed-income investments and driving investor preference for equities. - Hartnett recommends long-duration assets, gold, and emerging markets while advising caution regarding potential risks in AI stocks and bond yields.S&P 500 Top Stock Gainers Today, 8/12/26
Tip Ranks·- The S&P 500 closed higher on Wednesday following the Bureau of Labor Statistics Consumer Price Index update for July. - Real estate emerged as the top-performing sector driven by easing rate expectations and strong demand for AI-driven data centers, boosting companies like Digital Realty and Equinix. - The consumer discretionary sector faced the largest drawdown, weighed down by stock drops in Tapestry and Lululemon amid executive departures and upcoming earnings.