While you were sleeping: US housing weakness

Tue, 17 Jun 2014

By Margreet Dietz June 18 (BusinessDesk) - Wall Street rose as investors eyed a two-day Federal Reserve meeting that finishes on Wednesday amid reports showing declines in both US housing starts and building permits, while consumer prices climbed the most in more than a year. The Fed is widely expected to cut its bond-buying program by US$10 billion for a fifth straight month, lowering it to US$35 billion. Indeed, the US real estate industry, an area of concern including for Fed Chair Janet Yellen, showed further signs of weakness. Hou...

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