U.S. homebuilding increased more than expected in June, though expensive lumber, as well as shortages of labor and land, continued to constrain builders’ ability to fully take advantage of robust demand for housing. According to the Commerce Department housing starts rose 6.3% to a seasonally adjusted annual rate of 1.643 million units last month. Permits for future homebuilding fell 5.1% to a rate of 1.598 million units in June.
Jeff Bezos’ space company, Blue Origin, has sold nearly $100 million worth of tickets for future passenger flights to the edge of space, the billionaire founder announced on Tuesday. The company has not disclosed prices for seats on its New Shepard rocket. The only indication of Blue Origin’s pricing structure is a public auction the company held for a seat on its first flight with Bezos, which went for $28 million. That’s multiple times the $200,000-to-$500,000 range that Blue Origin’s suborbital space tourism competitor Virgin Galactic has charged for seats on its future flights.
Shares of Netflix are lower after the company reported earnings that missed on the bottom line and subscriber additions. The company’s revenue slightly beat estimates. Analysts hadn’t been expecting a blockbuster quarter when it comes to subscriber adds, expecting 1.75 million users. The company said it added 1.54 million users to finish the quarter with over 209 million paid memberships.