Robert Hughes

Weekly Initial Claims Rise to the Highest Level Since January

“Weekly initial claims jumped in the latest week, continuing a modest upward trend. The Russian invasion of Ukraine, lockdowns in China, sustained elevated price increases, and a new Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes

Corporate Profits Remained Strong in the First Quarter

“Corporate profits hit a record high in the first quarter despite a tight labor market and rising input costs. Companies are passing along higher costs to consumers, helping sustain historically high profit margins.” ~ Robert Hughes

Weekly Initial Claims Fall but Remain Above 200,000

“Weekly initial claims fell in the latest week, but a modest upward trend is developing. The Russian invasion of Ukraine, lockdowns in China, sustained elevated price increases, and a new Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes

Durable-goods Orders Rose Again in April

“Manufacturers’ new orders rose again in April and remain near record highs. Continued strength for business investment is a positive sign for the economic outlook but risks remain elevated.” ~ Robert Hughes

Housing Activity Shows More Signs of Deterioration

“Existing-home sales fell again in April and inventory rose, though it remains low by historical comparison. Shifting housing preferences, record-high prices, and surging mortgage rates are likely to impact activity over coming months.” ~ Robert Hughes

Weekly Initial Claims Hit the Highest Level Since January

“Weekly initial claims continue to trend slightly higher, but the low level still suggests a very tight labor market. The Russian invasion of Ukraine, lockdowns in China, sustained elevated price increases, and a new Fed tightening cycle remain risks to the outlook.” ~ Robert Hughes

Warning Flags for Home Construction

“Single-family starts and permits fell in April. Surging mortgage rates and record home prices are major headwinds for demand, and when combined with elevated commodity costs, are pummeling homebuilder sentiment.” ~ Robert Hughes