US New Home Sales Rise For First Time In 3 Months As Prices Near 5-Year Lows

AI Pledge Allegiance To The Flag By Bas van Geffen, senior macro strategist at Rabobank As Bloomberg recounts that “the ceasefire is set to expire today,” there is little left of that truce to begin with. Negotiations have broken down. And over the weekend, Israel conducted new strikes in Lebanon, a bulk carrier that tried to leave the Strait of Hormuz was hit by a projectile, and Yemen’s port suspended operations after Houthi missile attacks. Both sides are evaluating their options in the current stalemate. Iran’s hardline leadership is reportedly planning to...

Italian Energy Giant Eni Caps Fuel Prices As Refining Crunch Drives Costs Higher Authored by Charles Kennedy via OilPrice.com, Italian energy major Eni will cap fuel prices at its Enilive service stations beginning September 28 as tighter refined-product supplies and reduced European refining capacity continue to put upward pressure on pump prices. The company said diesel sold through Enilive will be capped at €2.19 per liter, while petrol will be limited to €1.99 per liter. Eni said the caps are roughly €0.17 per liter below current average price levels. The measure will initially...

The AI Economy, Part 1: Looking Beyond The Facade Authored by Michael Lebowitz via RealInvestmentAdvice.com, The US economy’s curb appeal looks great. Consider that gasoline prices are nearly $5, crude oil is trading above $100, consumer sentiment is at historically low levels, and mortgage and other interest rates have remained relatively high. Yet, despite the worrisome headwinds, the US consumer-driven economy continues to expand. However, as with a house’s curb appeal, it’s not just the headline data that defines an economy. Equally important is its supporting structure. Let’s open the door...