Business News

The Streak Continues

A new month and new hopes for the equity markets. The S&P 500 and NASDAQ have posted 7 consecutive quarters of positive growth as of the end of the third quarter.  That is almost two years. (Fox Business News)

U.S. single-family home prices rose in July year-over-year up 6.7%.  Home prices continue to rise but thankfully at a more sustainable rate. (S&P/Case Shiller composite index)

ADP says the private sector added 213,000 jobs in August. Growth was seen across every sector and every size of business. (CNBC)

Iron ore has slumped below $80 a metric ton for the first time in five years on speculation that China’s slowing economic growth will curb demand by the world’s biggest user, exacerbating a global surplus. Global output of iron ore will exceed demand by 52 million tons this year and 163 million tons in 2015, adding to the surplus. (Bloomberg)

First it was the surge in beef prices now you can add lemons to the growing list. A case of 165 lemons costs about $50, up from $30 to $35 last year. A prolonged drought in California, which grew 91% of US lemons this year, contributed to a surge in costs. Wholesale prices almost doubled from a year earlier, and retail lemons are up 36% in August, the highest since 1980. (Bloomberg)

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