WSJ : U.S. Life Expectancy Fell Again in 2021 as Covid, Overdoses Took Toll

U.S. Life Expectancy Fell Again in 2021 as Covid, Overdoses Took Toll
Preliminary data from CDC show life expectancy among Americans decreased nearly one year on average to 76.1 years

Life expectancy in the U.S. dropped in 2021 for a second consecutive year as Covid-19 and overdoses drove up mortality rates, preliminary data showed.

Americans’ life expectancy last year fell 0.9 year on average to 76.1 years, according to data from the Centers for Disease Control and Prevention released Wednesday. It was a smaller drop than in 2020, when life expectancy decreased 1.8 years, the data showed, but the combined figures for the two years were the largest since the 1920s, the CDC said. “None of us are OK,” said Steve Woolf, director emeritus of the Center on Society and Health at Virginia Commonwealth University.

The data demonstrated that some groups have been hit particularly hard by the pandemic as well as the opioid crisis, which claimed some 108,000 lives last year. Indigenous Americans had the biggest drop in life expectancy in 2021 at 1.9 years, the data showed, bringing their life expectancy to 65.2 years, down 6.6 years since 2019.

The decline among Native Americans was driven by higher Covid-19 death rates than in 2020, unintentional injuries including overdoses and chronic liver disease and cirrhosis.

“We have a crisis of early deaths among American Indians,” said Donald Warne, associate dean of diversity, equity and inclusion at the School of Medicine and Health Sciences at the University of North Dakota and a member of the Oglala Lakota tribe.

Covid-19 accounted for more than half of the increase in deaths among white people in 2021, the data showed, while unintentional injuries including overdoses accounted for about 12%.

Life expectancy declined less among Black people than white people in 2021, the data showed, reflecting in part the higher burden of deaths among some minority groups in the early phases of the pandemic. Black people in the U.S. had a life expectancy of 70.8 years last year, according to the CDC, compared with 76.4 years for white people.

“We continue to see disparities for people of color,” said Ada Stewart, a family physician with Cooperative Health in Columbia, S.C., and board chair of the American Academy of Family Physicians. “They did not fare well during the pandemic.”

Black and Hispanic Americans have been hard hit by an overdose crisis driven primarily by the spread of fentanyl produced in makeshift Mexican labs. Higher rates of death in the category that includes overdoses reflects poorer access to treatment for many minority groups, said Karen Scott, president of the nonprofit Foundation for Opioid Response Efforts.

“Addressing the overdose crisis requires acknowledging that you have to work on many fronts at one time,” she said.

Deaths attributed to flu, pneumonia and Alzheimer’s dropped in 2021, the data showed. For Alzheimer’s in particular, a lower death toll in 2021 reversed a high tally in 2020, when deaths from the disease rose 18% from the year before.

“The truly vulnerable were left in drastic situations,” said Beth Kallmyer, vice president of care and support for the Alzheimer’s Association.

>>> Stoxx 600 Pre-Market Indications

  • K+S (SDF TH) +1.6%
  • ASML (ASME TH) +1.4%
    • ASML Raised to Buy at UBS; PT 665 euros
    • Watch Chip Stocks as Korean Chipmakers Record Drop in Shipments
  • Reckitt (3RB TH) +1.4%
  • UniCredit (CRIN TH) +1.4%
  • Verbund (OEWA TH) +1.3%
  • Porsche SE (PAH3 TH) +1.2%
  • Adyen (1N8 TH) +1%
  • Veolia (VVD TH) +0.9%
    • Veolia : Finl Press Release 08/31/2022
  • Bayer (BAYN TH) +0.8%
  • Kone (KC4 TH) -0.6%
  • Glencore (8GC TH) -0.6%
  • TotalEnergies (TOTB TH) -0.6%
  • Novo Nordisk (NOVC TH) -1%

FT : Japan to upgrade its cruise missiles in big defence spending push

Japan to upgrade its cruise missiles in big defence spending push
Tokyo seeks to boost military in response to Russia’s invasion of Ukraine and more assertive China

Japan will upgrade its cruise missiles and research hypersonic weapons as it seeks to significantly increase military spending to counter what Tokyo sees as the rising threat from China.

The defence ministry on Wednesday made a record ¥5.6tn ($40bn) budget request for the year to March 2024, compared with ¥5.4tn in planned spending for the current fiscal year.

But people with knowledge of internal ministerial discussions said the final budget would top at least ¥6tn after the inclusion of additional requests for military equipment to be made at the end of 2022, when Japan will release a new national security strategy and defence guidelines. This would make the figure one of the biggest increases in the country’s military spending in the postwar period.

Tokyo has been steadily increasing its defence budget for the past decade, but spending has remained equivalent to about 1 per cent of gross domestic product, which is low by global standards.

That is poised to change under Prime Minister Fumio Kishida, who has pledged to “significantly” upgrade defence capabilities after Russia’s invasion of Ukraine raised fears that China could make a similar move against Taiwan.

The ruling Liberal Democratic party has called for Japan to match Nato’s target for member states to spend 2 per cent of GDP on defence, but the government has not set a specific target.

The people familiar with the budget discussions said Japan was considering developing homegrown cruise missiles that would have a range of more than 1,000km. This would allow Japan to strike targets within North Korea or China from ships and fighter jets.

The long-range surface-to-ship missiles are expected to form the basis of first-strike capabilities against enemy bases that Japan, which has traditionally committed to a purely defensive military stance, is considering as part of the national security strategy.

Those deliberations are likely to intensify after China carried out a series of unprecedented military exercises in response to a visit to Taiwan by US House Speaker Nancy Pelosi. Tokyo criticised Beijing for firing ballistic missiles into Japan’s exclusive economic zone for the first time as part of the drills this month.

The upgrade of cruise missile capability is expected to be part of a long shopping list of additional items that the defence ministry plans to put price tags on by the end of 2022.

The budget request included outlays for drills to be conducted around the waters of the southernmost tip of the Ryukyu island chain — which Tokyo calls the Nansei islands — where China has recently increased its naval presence. It also included spending on unmanned aerial vehicles as well as cyber security and space capabilities.

Keitaro Ohno, an LDP parliamentarian formerly in charge of economic security issues, said debate about strengthening Japan’s capabilities should not focus only on missiles and other weapons but also on research and development, growth of domestic defence companies and other basic needs such as ammunition.

“Instead of simply increasing combat equipment, we need to focus on building a robust structure for the defence industry,” Ohno said.

How far the Kishida administration can actually increase military spending remains unclear. The prime minister will need the backing of the LDP’s coalition partner Komeito, which draws its support from Buddhist voters, for the expanded budget and the addition of first-strike capabilities.

Those talks are expected to begin in October.

“Komeito may make tough demands and there is the risk that additional individual requests for spending would not be approved,” a senior LDP parliamentarian said.

Some people within the LDP have called on the government to use this year’s defence budget to send a strong message on security. But others have questioned how Japan will finance big outlays as it also addresses an ageing population and ballooning social security spending.

>>> Europe : Brokers Upgrades & Downgrades - 31st of august 2022 V2(+)

>>> Up
* Ackermans Raised to Buy at KBC Securities; PT 188 euros (+)
* Ahold Delhaize Raised to Buy at Bryan Garnier; PT 34 euros (+)
* ASML Raised to Buy at UBS; PT 665 euros (+)
* Gestamp Raised to Buy at Alantra Equities; PT 4.65 euros (+)
* Workspace Raised to Buy at Berenberg; PT 650 pence

>>> Down
* Ambarella Cut to Hold at Summit Insights
* Basilea Cut to Hold at Mirabaud Securities
* Civitas Cut to Hold at Berenberg
* Derwent London Cut to Hold at Berenberg; PT 2,800 pence
* GN Store Nord Cut to Buy at Jyske Bank; PT 300 kroner (+)
* Helical Cut to Hold at Berenberg; PT 375 pence
* Kone Cut to Reduce at Inderes; PT 44 euros
* LondonMetric Cut to Sell at Berenberg; PT 200 pence
* Supermarket Income Cut to Hold at Berenberg
* Synthomer Cut to Hold at Peel Hunt; PT 270 pence
* TT Electronics Cut to Add at Peel Hunt; PT 225 pence
* *TRAUMHAUS CUT TO HOLD VS BUY AT BANKHAUS METZLER, PT EU12 (+)
* Tritax Big Box Cut to Hold at Berenberg; PT 190 pence
* Urban Logistics REIT Cut to Hold at Berenberg
* Warehouse Cut to Hold at Berenberg


>>> Initiation
* Gresham House Rated New Buy at Peel Hunt; PT 1,110 pence
* Opdenergy Rated New Overweight at Barclays; PT 6.10 euros
* United Internet Rated New Neutral at Citi; PT 24.50 euros

>>> Call
* ASML Upgraded to Buy at UBS as Among ‘Most Attractive’ Stocks (+)
* EU Utilities Face Huge Collateral Needs From Price Surge: Citi (+)
* Berenberg Sees ‘Tougher Times Ahead’ For UK Real Estate Sector
* Brunello Cucinelli Beats, Outlook ‘Reassuring,’ Jefferies Says
* Komax Guidance Beats; Baader Says Schleuniger Deal Offers Growth (+)
* Securitas PT Cut to Street-Low at RBC on Unfavorable Risk-Reward
* Synthomer Cut as Peel Hunt Awaits Clarity on Key Issues
* United Internet Initiated Neutral at Citi on ‘Stalled Narrative’ (+)

WSJ : U.S. Army Grounds Entire Fleet of Chinook Helicopters

U.S. Army Grounds Entire Fleet of Chinook Helicopters
Flights of the workhorse choppers are halted due to engine fires, U.S. officials say


The Army has about 400 Chinook helicopters in its fleet, a U.S. official says. Soldiers approach a Chinook during a training exercise in Pirkkala, Finland, earlier in August.

The U.S. Army has grounded its entire fleet of CH-47 Chinook helicopters because of a risk of engine fires, U.S. officials said.
Army officials are aware of a small number of engine fires with the helicopters, and the incidents didn’t result in any injuries or deaths, the U.S. officials said. One of the officials said the fires occurred in recent days.
The U.S. Army Materiel Command grounded the fleet of hundreds of helicopters “out of an abundance of caution,” but officials were looking at more than 70 aircraft that contained a part that is suspected to be connected to the problem, officials said.
The grounding of the Chinook helicopters, a battlefield workhorse since the 1960s, could pose logistical challenges for American soldiers, depending on how long the order lasts.
The grounding was targeted at certain Boeing Co. -made models with engines manufactured by Honeywell International Inc., people familiar with the matter said. The grounding took effect within about the last 24 hours, these people said. The Army has about 400 helicopters in its fleet, one of the U.S. officials said.
Boeing declined to comment, referring questions to the Army.
A Honeywell spokesman said the engine maker worked with the Army to determine that certain components known as O-rings didn’t meet the company’s design specifications. He said the parts were installed during routine maintenance at an Army facility. While he declined to name the company that made the parts, the Honeywell spokesman said the company is working to supply the Army with replacements.
An Army spokeswoman said the service has identified the root cause of fuel leaks that caused “a small number of engine fires among an isolated number” of the helicopters. She said the Army is taking steps to resolve the issue.
“The safety of our soldiers is the Army’s top priority, and we will ensure our aircraft remain safe and airworthy,” the spokeswoman said.
The Chinook is a heavy-lift utility helicopter that is used by both regular and special Army forces, ferrying more than four dozen troops or cargo. It has been a staple of the Army’s helicopter fleet for six decades.

>>> TradeGate Pre-Market Indications

DAX:
  • Porsche SE (PAH3 TH) +1.5%
  • Infineon (IFX TH) +1%
    • Watch Chip Stocks as Korean Chipmakers Record Drop in Shipments
  • Mercedes (MBG TH) +1%
    • Allianz Vermoegensbildung Deutschland Buys More Mercedes
  • Deutsche Bank (DBK TH) +0.9%
  • Vonovia (VNA TH) +0.9%
MDAX:
  • K+S (SDF TH) +1.6%
  • Uniper (UN01 TH) +1.4%
    • Europe Braces for Rationing Risks in Russian Gas Showdown
  • Grand City Properties (GYC TH) +1.4%
  • ProSieben (PSM TH) +1.3%
  • Thyssenkrupp (TKA TH) +1.3%
    • JPMorgan Global Bond Opportunies Adds US Treasury, Exits Insulet
  • Aixtron (AIXA TH) +0.8%
  • Telefonica Deutschland (O2D TH) +0.7%
SDAX:
  • Schaeffler (SHA TH) +1.7%
  • Deutz (DEZ TH) +1.4%
  • Heidelberger Druck (HDD TH) +1.3%
  • Shop Apotheke (SAE TH) +1.3%
  • flatexDEGIRO (FTK TH) +1%
  • SMA Solar (S92 TH) +0.7%

FT : Maersk aims to use bumper profits to integrate global supply chain

Maersk aims to use bumper profits to integrate global supply chain
Shipping group set to take Asian warehousing business acquired in December worldwide

AP Møller-Maersk is to use its bumper shipping profits to take global the $3.6bn Asian warehousing business it bought in December as the Danish container group aims to integrate its supply chain around the world.

Maersk’s $3.6bn acquisition of LF Logistics, announced in December, closed on Wednesday, and the group is wasting no time in taking the business to Europe and the rest of the world to bulk up its logistics offering.

“Not only will it unlock the growth in Asia, but we intend to take the platform globally,” Ditlev Blicher, head of Asia-Pacific for Maersk, told the Financial Times.

“This is a significant step forward both in our ambition to build a global integrator of supply chains as well as a massive step forward into the Asian theatre.”

Container shipping lines such as Maersk are expected to make record profits in both 2021 and 2022 as they benefit from sky-high freight rates owing to supply chain congestion that resulted from a surge in demand after the first wave of the Covid-19 pandemic.

Maersk and its two main rivals — Switzerland’s Mediterranean Shipping Company and France’s CMA CGM — have used some of the profits to push into land-based logistics, aiming to offer big shippers such as retailers and manufacturers the ability to move goods from the factory floor to the end-consumer.

The higher-margin logistics business, predominantly used by large retailers, is meant to offer a counterweight to Maersk’s volatile container shipping, but some investors have worried that the companies may be overpaying.

LF, which was expected to have $1bn in revenues last year and $250mn in earnings before interest, tax, depreciation and amortisation, runs 223 distribution centres throughout Asia, working to fulfil orders for more than 400 global brands by delivering their goods either to the end consumer or to wholesalers.

It combines fulfilment, delivering goods to a customer’s specifications and satisfaction, for both in-store and online orders.

Blicher said Maersk was not currently present in fulfilment apart from in the US and would aim to use LF’s IT platform to expand in the rest of the world.

Asked if he thought Maersk could increase LF’s revenues, Blicher replied: “Very considerably. We are looking to grow this multiple-fold. We are not looking at small growth parameters, whether in Asia or globally.”

He described LF’s customer list as “a who’s who of blue-chip retailers”, and said such customers were keen to have a standardised service around the world, rather than depend on multiple local participants as they do at present.

Maersk itself has underlined how companies are increasingly looking to have multiple suppliers of components to avoid over-dependency on any one group.

Asked if that applied to logistics too, Blicher replied: “There is no one answer. There is a trade-off to consider. Most supply chains are dependent on single sourcing at some stage.”

Maersk, which has raised its group profit guidance three times in each of the past three years, has posted six consecutive quarters of organic revenue growth of more than 30 per cent in its logistics business.

On top of this, it has made several acquisitions such as $3.6bn for LF, a $1bn push into air freight last November and a $1.7bn deal this year for a US logistics group.

>>> Europe : Brokers Upgrades & Downgrades - 31st of august 2022

>>> Up
* Workspace Raised to Buy at Berenberg; PT 650 pence

>>> Down
* Ambarella Cut to Hold at Summit Insights
* Basilea Cut to Hold at Mirabaud Securities
* Civitas Cut to Hold at Berenberg
* Derwent London Cut to Hold at Berenberg; PT 2,800 pence
* Helical Cut to Hold at Berenberg; PT 375 pence
* Kone Cut to Reduce at Inderes; PT 44 euros
* LondonMetric Cut to Sell at Berenberg; PT 200 pence
* Supermarket Income Cut to Hold at Berenberg
* Synthomer Cut to Hold at Peel Hunt; PT 270 pence
* TT Electronics Cut to Add at Peel Hunt; PT 225 pence
* Tritax Big Box Cut to Hold at Berenberg; PT 190 pence
* Urban Logistics REIT Cut to Hold at Berenberg
* Warehouse Cut to Hold at Berenberg


>>> Initiation
* Gresham House Rated New Buy at Peel Hunt; PT 1,110 pence
* Opdenergy Rated New Overweight at Barclays; PT 6.10 euros
* United Internet Rated New Neutral at Citi; PT 24.50 euros

>>> Call
* Berenberg Sees ‘Tougher Times Ahead’ For UK Real Estate Sector
* Brunello Cucinelli Beats, Outlook ‘Reassuring,’ Jefferies Says
* Securitas PT Cut to Street-Low at RBC on Unfavorable Risk-Reward
* Synthomer Cut as Peel Hunt Awaits Clarity on Key Issues

>>> What to look at today - 31st of August 2022

US equity futures rose and an Asian stock gauge erased an intraday drop Wednesday in a hiatus from the selloff triggered by the Federal Reserve’s preference for restrictive monetary settings to tackle inflation. The regional index was steady in a mixed day that saw tech shares climb but China’s bourses retreat. BYD Co. plunged in Hong Kong after Warren Buffett’s Berkshire Hathaway Inc. trimmed its stake in the electric vehicle maker. Traders were also evaluating the latest Chinese data, which indicated factory activity shrank for a second month. Power shortages, a property sector crisis and Covid outbreaks all took a toll. S&P 500, Nasdaq 100 and European contracts pushed higher. Wall Street shares on Tuesday hit a one-month low -- robust US labor demand and consumer confidence data added to the case for sharp interest-rate hikes to tackle inflation. Fed officials reiterated their determination to curb price pressures. A dollar gauge and Treasuries declined. A deepening yield curve inversion points to fears that the Fed will trigger a recession. Oil pared a slide but was still headed for a third monthly drop -- the longest losing run in more than two years -- hampered by the likelihood of slower global growth. Market bets on a shallower trajectory for Fed tightening are receding, raising the prospect of more losses for stocks and bonds in an already difficult year. Investors are scouring incoming data for clues on the policy path, with August US jobs figures on Friday the next key report. Fed officials again stressed their commitment to defeating inflation while remaining vague on how big their policy move will be next month. Investors are also contending with a European energy crisis as well as mounting friction between Beijing and Taipei after Taiwanese soldiers fired shots to ward off civilian drones. US After Hours CHWY -9.1%, AMBA -7.4%, HPQ -4.2%, PVH -3.6% lower on earnings; HPE +2.6%, CHPT +1.4% higher on earnings

Nikkei -0.46% Hang Seng +0.41% CSI +0.31% Shanghai -0.35% Shenzen -1.38%

Eur$ 1.0034 CNH 6.8977 CNY 6.8916 JPY 138.46 GBP 1.1679 CHF 0.9731 RUB 60.8441 TRY 18.1899 WTI$ 92.41 +0.87% Gold 1,724.58 +0.03% BTC 20,369 +1.97% ETH 1,606.27 +3.12%

S&P +0.65% Nasdaq +0.79% EuroStoxx +0.73% FTSE +0.23% Dax +0.71% SMI +0.12%

Macro :
- Fed’s Hawkish Reminder Propels Value Ahead of Growth
- Top Brazil Hedge Fund Manager Beefs Up Team, Seeks New Money

Keep an eye on :
- ACKB BB : Ackermans 1H Net Income EU278.4M Vs. EU165.7M Y/y
- AGS BB : Ageas in 3-Year Sponsorship Pact With Million Dollar Round Table
- BAVA DC : First Possible US Monkeypox Death May Have Occurred in Texas
- BIM FP : BioMerieux Narrows FY Organic Sales Forecast
- BC IM : Brunello Cucinelli 1H Net Income EU46.6M Vs. EU20.3M Y/y
- CLN SW : Clariant Sells Quats Unit to Global Amines for $113 Million
- DOKA SW : Dormakaba FY Net Income Misses Estimates
- ENGI FP : French Gas Storage to Be Full in About Two Weeks: Minister
- EQT SS : EQT Raises $15 Billion for New Fund, Defying Market Headwinds
- HLAG GY : Global Ship Jumps After Signing New Charters With Hapag-Lloyd
- IBAB BB : Ion Beam 1H Adjusted Ebit EU4.56M Vs. EU0.67M Y/y
- IBAB BB : Ion Beam Applications to Buy 9.1% Stake in ScandiDos for $1.17m
- INTER NA : CSC, Intertrust Obtain 1st of 3 Required Nods in the Netherlands
- ITA Airways : Italy to Select Certares-Led Bid for ITA Airways: Messaggero
- LOGN SW : Watch Logitech After HP Reduces Profit Forecast as PC Sales Fall
- NXU GY : Nexus Sells 1.45m Shares to Luxempart at EU50/Share
- METN SW : Metall Zug Gets Book Gain of CHF90m After Schleuniger-Komax Deal
- QFUEL NO : Quantafuel Sees Positive Cash Flow From Plants by Year-End
- RNO FP : Geely, Oil Group in Talks for Stakes in Renault Unit: Reuters
- RWE GY : German Nuclear Plants May Still Be on Grid in 2023: Spiegel
- SAND SS : Sandvik Spinoff Braves Listing Market With Focus on Green Energy
- SRAIL SW : Stadler Rail Sees FY Ebit Margin at Least 5%, Est. 6%
- STR AV : Strabag 1H Ebit EU63.6M Vs. EU140.2M Y/y
- UBSG SW : UBS Cuts China Debt Bankers in Hong Kong Amid Deal Drought
- UN01 GY : German State Mulls Second Floating LNG Hub in Wilhelsmhaven: DPA
- VOD LN : Vodafone Will Index Spanish Prices to Inflation: Expansion
- VOW3 GY : VW’s Skoda to Invest EU5.6b in Electromobility in Next 5 Years

>>> US Close Dow -0,96% S&P -1,10% Nasdaq -1.12%


Closing Stock Market Summary

The stock market continued its selloff today with each of the major indices closing below their respective 50-day moving averages. The market opened flat before downside momentum picked up steam around midmorning. The major indices were stuck in a narrow trading range throughout the afternoon with the S&P 500 closing below the 4,000 level. 

The selling effort was indiscriminate, leaving many stocks with losses. The S&P 500, the Vanguard Mega Cap Growth ETF (MGK), and the Invesco S&P 500 Equal Weight ETF (RSP) all closed with a 1.1% loss. 

Growth and value stocks both suffered notable losses with the Russell 3000 Growth Index closing down 1.1% while the Russell 3000 Value Index closed down 1.2%.

Market breadth reflected the selling bias today. Decliners led advancers by a nearly 4-to-1 margin at the NYSE and a 2-to-1 margin at the Nasdaq.

Every S&P 500 sector closed in the red with losses ranging from 0.4% (financials) to 3.4% (energy). 

The energy sector was in last place, by a wide margin, while energy complex futures sold off. WTI crude oil futures fell 5.5% to $91.60/bbl. Natural gas futures fell 2.6% to $9.06/mmbtu. Unleaded gasoline futures fell 7.0% to $2.53/gal. This comes after Bloomberg reported that the EU is set to meet its gas storage filling goal two months ahead of target. Also, European Commission President von der Leyen said that an emergency intervention is being planned to rein in energy prices.

On an individual basis, Big Lots (BIG 24.08, +2.53, +11.7%) made a big upside move on favorable quarterly results while Best Buy (BBY 74.89, +1.19, +1.6%) also had a sizable earnings-driven gain. 

The 2-yr Treasury note yield rose four basis points to 3.46% while the 10-yr Treasury note yield was unchanged at 3.11%.

Ahead of Wednesday's open, Brown-Forman (BF.B) reports quarterly results.

Wednesday's economic data includes the weekly MBA Mortgage Applications Index (prior -1.2%) at 7:00 a.m. ET, August ADP Employment Change (Briefing.com consensus 315,000) at 8:15 a.m. ET, August Chicago PMI (Briefing.com consensus 53.1; prior 52.1) at 9:45 a.m. ET, and weekly EIA Crude Oil Inventories (prior -3.28 million) at 10:30 a.m. ET.

Reviewing overnight developments:

  • The Conference Board's Consumer Confidence Index rose to 103.2 in August (consensus 97.4) from a downwardly revised 95.3 (from 95.7) in July. This was the first increase in the index in four months. In the same period a year ago, the Consumer Confidence Index stood at 115.2.
    • The key takeaway from the report is that even with the August improvement in confidence, the Expectations Index remains below 80.0, which suggests the continued presence of an elevated risk of recession.
  • July JOLTS Job Openings totaled 11.239 million after the prior revised total of 11.04 million (from 10.698).
  • June FHFA Housing Price Index rose 0.1% after the prior revised 1.3% increase (from 1.4%).
  • June S&P Case-Shiller Home Price Index rose 18.6% (consensus 19.0%) following a prior 20.5% increase.

Dow Jones Industrial Average: -12.5% YTD
S&P 400: -13.9% YTD
S&P 500: -16.4% YTD
Russell 2000: -17.4% YTD
Nasdaq Composite: -24.1% YTD