Here's what we are reading this morning:
Private payrolls rise 692,000 in June, easily topping expectations: The gain of 692,000 was well above the 550,000 Dow Jones estimate though it fell short of May’s 886,000. In one bit of bad news for the jobs market, the May count was revised down sharply from the initially reported 978,000, though that still left it as the best month since September 2020.
May home sales rebound to highest level since 2005: Pending home sales, a measure of signed contracts on existing homes, jumped an unexpectedly high 8% in May compared with April, according to the National Association of Realtors. Analysts expected a 1% drop. This is the highest level of sales activity for May since 2005.
Opening for a U.S. Bankruptcy Court Judge in Jacksonville, Florida:
Hahnemann Hospital Owner Fires Bankruptcy Administrators Who Sued Him: The investor who bought Philadelphia’s Hahnemann University Hospital has fired the bankruptcy administrators who sued him over its collapse, throwing negotiations with the defunct facility’s creditors into disarray.
Gap Closes All UK Stores, Offloads France Business in European Review - Bloomberg: The company plans to maintain its e-commerce operations in Europe while closing company-operated Gap Specialty and Gap Outlet stores in the U.K. and Republic of Ireland by the end of September, according to a statement Wednesday.
Current Reports (Form 8-K) Filed With the Securities & Exchange Commission (SEC) Regarding Triggering Events That Accelerate or Increase a Direct Financial Obligation (Item 2.04) for the Week Ended Wednesday Jun 30, 2021:
Economists predict at least two US interest rate rises by end of 2023 | Financial Times: The inaugural survey conducted by the FT and the Initiative on Global Markets at the University of Chicago’s Booth School of Business points to a potentially more hawkish path for monetary policy than indicated by the Fed’s chair, Jay Powell.