Daily Rundown
- Chief Strategist, Bryan Jordan CFA
- 1 day ago
- 1 min read
July 10 ,2026
Chart of the Day
Number of the Day
4.6 - The months' supply of existing homes on the market at the current sales pace in June, equaling the most since mid-2016
Quote of the Day
"The consumer is worse than we had anticipated, and it's driven mainly by gas prices." - Pepsi CEO Ramon Laguarta
Thursday's Highlights
Initial unemployment claims (week of 6/28) fell by 2,000 to 215,000. Continuing claims, however, hit a three-month high.
Existing home sales (June) fell by 2.4 percent to an annualized pace of 4.1 million. The median price was up by 1.8 percent year-over-year.
Quick Commentary
Rising inventories and slowing price increases are helping the housing market to heal, but the recovery is to this point playing out at a glacial pace. The existing home sales pace is now virtually unchanged since the beginning of 2023, the beginning of 2024, and the beginning of 2025. Moreover, the stagnation has come despite a tight labor market; housing would be at obvious risk of relapse should job losses start to build.
Daily Trivia
What group was paid roughly $1,000 to write a jingle for Rice Krispies in 1964, 31 years before they contributed to a much higher-profile campaign for Microsoft?
(Thursday's Question: What tax exile was lured back to Sweden in the mid-1980s with a tax-free deal to become the country's tourism ambassador? Answer: Bjorn Borg)