Inflation came in a little hotter than expected in July, with the Fed’s preferred PCE gauge up 3.7% over last year.

Durable goods orders beat expectations in July, rising 1.1% and indicating continued strength in business and consumer demand.

Initial jobless claims dropped to 203K last week, below forecasts. Continuing claims also moved lower, signaling labor market stability.

New home sales fell in July, and the median price of a new home dropped to $393,800, the lowest level in 5 years, per the U.S. Census Bureau.

NAR reports the median price of an existing home was $434,100 in the same month, reflecting an unusual price inversion.

Active for-sale inventory approached 1.2 million homes earlier this month, reaching the highest level since November 2019, per Realtor.com.