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Existing home sales fell 1.7% in July from June to a seasonally adjusted annual rate of 4.06 million units, according to the National Association of Realtors, though sales still managed to rise 0.7% from a year earlier. The median sales price climbed 2.0% year over year to a record $434,100,

The NFIB Small Business Optimism Index jumped 2.4 points in July to 99.8, pushing above its 52-year average of 98.0 and marking the highest reading since August 2025. Eight of the index’s ten components improved while only two declined, a broad-based gain rather than one driven by a single data

July’s Consumer Price Index (CPI) report showed inflation continued to ease. Headline CPI rose 3.4% year over year, down from 3.5% in June, while core CPI, which excludes food and energy, slowed to 2.5% from 2.6%. On a monthly basis, headline prices rose 0.1% in July after falling 0.4% in

Leverage is one of the most powerful tools in investing, and one of the most dangerous. Used carefully, it can accelerate wealth creation. Used carelessly, it can wipe out decades of gains in a matter of days. This publication walks through how leverage works, why it fails the way it

This market update highlights key developments across equities, fixed income, and the broader economic landscape as we move past mid-year. Equities – The Index Barely Moved, but Beneath the Surface the Rally Broadened July’s headline numbers tell a misleading story, and understanding why is the key to understanding the month.

The US trade deficit narrowed to $73.3 billion in June, down from $77.6 billion in May, as imports fell faster than exports. Imports dropped 1.8 percent to $388.0 billion, led by weaker purchases of capital goods and consumer goods, particularly computers and pharmaceuticals. Exports slipped 0.9 percent to $314.7 billion,

The Chicago Business Barometer rose to 57.6 in July, topping economist expectations and extending the index’s run above the neutral 50 mark to three consecutive months. The reading follows June’s 56.7 and May’s four year high of 62.7, a stretch that has reversed April’s unexpected slide back into contraction at

Real GDP grew at an annual rate of 1.5 percent in the second quarter of 2026, according to the advance estimate released today by the Bureau of Economic Analysis. That is a meaningful step down from the 2.1 percent pace in the first quarter, and it comes paired with a

June’s Personal Consumption Expenditures (PCE) release provided a welcome sign of relief, as headline inflation declined to 3.7% year over year, down from 4.1% in May. On a monthly basis, prices fell 0.1%, reversing the prior month’s increase and reflecting a meaningful short-term cooling in inflation. Much of the improvement