Daily Market Commentary

September 24, 2020

Sales of new homes in the U.S. unexpectedly advanced for a fourth month in August to the highest level in almost 14 years as record-low mortgage rates continued to entice buyers into a market with ever-shrinking supply.

Initial jobless claims in regular state programs increased by 4,000 to 870,000 in the week ended Sept. 19, still about four times pre-pandemic levels, according to Labor Department figures released Thursday.

Pay cuts introduced by U.S. employers in the early days of the coronavirus pandemic -- meant to stave off layoffs and retain key employees -- have proved less temporary than perhaps originally envisioned.

The information represented herein was obtained from various sources, which we believe to be reliable. Neither the information presented nor opinions expressed constitutes an offer to buy or sell any security. And it is not intended to guide the investor on which securities to buy, or when to buy or sell.

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