Afternoon Coffee: Homebuilder Confidence Spikes, US Consumer Prices Rise in June

Coffee Beans In A Mug Representing Pure Fresh Roasted Brewed Coffee

Homebuilders’ confidence levels have reached the highest levels in a decade. The National Association of Home Builders/Wells Fargo builder sentiment index is at 60, the highest since November 2005.

The US consumer price index increased 0.3% in June, in line with economists’ expectations. Rising prices of gasoline, food and housing helped boost the overall price index.

Consumer sentiment is down for the beginning of July, with the Thompson Reuters/University of Michigan’s index coming in at 93.3. The final June reading was 96.1.

General Electric’s industrial business experienced increased profits during the second quarter of the year, which prompted the company to raise its full-year industrial earnings forecast.

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