New-home construction posts biggest drop in four years, despite housing shortage

Construction on new U.S. homes fell nearly 15% in March, the Commerce Department said Tuesday. 


 
U.S. industrial output rises modestly for second straight month in March

There are signs that manufacturing is starting to pick up. 


 
Dow Moves Higher, Investors Cheer Morgan Stanley Earnings

Stocks were mixed in early action as markets faced a heady mix of earnings, rising tensions in the Middle East and questions about the prospect for interest-rate cuts. 


 
Recent Data Support Higher for Longer Rates, Fed Vice Chair Says

Philip Jefferson continues to expect moderating inflation and growth in 2024. It's just taking longer to get there. 


 
The Global Economy Is Picking Up Steam, But the Poorest Countries Are Falling Behind, IMF Says

The International Monetary Fund expects global economic output to expand 3.2% this year, after previously predicting 2.9%. 


 
Rate Cuts Are Direction of Travel, BOE's Lombardelli Says

The Bank of England is likely to cut its key interest rate over the coming months, but exactly when is uncertain, the incoming deputy governor for monetary policy said. 


 
Diverging Fed-ECB Policy Outlook Widens U.S.-German Yield Differential

Diverging prospects for interest rates in the U.S. and eurozone have widened the gap between Treasury yields and Bunds, a trend analysts expect to continue as data point to a strong U.S. economy against a tepid eurozone recovery. 


 
China's Overcapacity Is Already Backfiring

Excess investment in industry isn't made up by China's trading partners, and it has domestic consequences. 


 
U.K. Labor Market Cools Again, Making Rate Cuts More Likely

Unemployment ticked higher and wage growth slowed in the U.K. in the three months to February, adding to signs that inflation is easing and making interest-rate cuts likelier in the coming months. 


 
Big Tech Is Downsizing Workspace in Another Blow to Office Real Estate

The pullback marks a sharp reversal after years when companies had been bolstering their office footprints by adding millions of square feet of space.


(END) Dow Jones Newswires

04-16-24 1115ET