U.S. Economic News

June 21, 2018

U.S. Economic Indicators

Initial jobless claims fell 3,000 to 218,000 last week. The four-week moving average decreased 4,000 to 221,000.  DOL Report

The FHFA House Price Index shows that U.S. house prices rose 0.1% in April and were up 6.4% from the same period last year. House prices rose on a monthly basis in six of nine census divisions, with the largest gains coming in the East North Central division. Report

U.S. News

The Financial Times reports that Commerce Secretary Wilbur Ross blamed speculators for the recent sharp rise in domestic steel prices. Ross said that “intermediaries” are stockpiling steel and intentionally constricting supply and driving prices up, and that the Commerce Department would investigate these practices. FT

According to the Wall Street Journal, Germany’s largest automakers support the abolition of all import tariffs between the E.U. and U.S. The move is seen as a way to avoid an all-out trade war between the two trading partners and comes after the E.U. retaliated against U.S. tariffs on steel and aluminum. WSJ

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