U.S. Economic Indicators

Initial jobless claims increased 6,000 to 229,000 last week. The four-week moving average fell 2,500 to 223,750. DOL Report

New home sales fell 6.9% to a seasonally adjusted annual pace of 607,000 in January, and are 4.1% below the January 2018  rate.  The median sales price fell to $317,200 and the inventory of new homes rose to 6.6 months at the current sales rate. Census Bureau Report

U.S. News

The Wall Street Journal reports that the Chinese economy continues to slow despite authorities’ efforts to increase spending on infrastructure, lower taxes for households and businesses, and encourage banks to lend more to small businesses. The Chinese government has cited a number of headwinds restricting growth, including trade tensions with the U.S. and a slump in auto sales. WSJ

According to the Wall Street Journal, British Parliament unexpectedly voted against a no-deal exit from the European Union a day after rejecting a Brexit deal for the second time. Capital markets and the British pound have remained strong through 2019, indicating investors are not expecting a disruptive Brexit as the March 29 deadline draws near. WSJ