Positive Earnings, Housing, and LEI News; Stocks Closed Week At A Record

Published Friday, July 23, 2021 at: 7:40 PM EDT

Positive reports on corporate earnings, housing starts, and the index of leading economic indicators (LEI) drove stocks to close the week at a record high. American Express, Coca-Cola, and Twitter, all issued better than expected earnings reports, and two important economic indicators were very positive. According to numerous academic studies, America needs to build about one million new single-family housing units to keep up with population growth but lagged from that level for five years, from 2008 until 2013. Since June 2020, housing starts have exceeded the one-million a year mark for a sustained period for the first time since 2007. Housing...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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