AP

This Week: Housing starts, Fed policy update, FedEx earns

Sep 18, 2022, 12:10 PM | Updated: Sep 19, 2022, 12:11 am

A look at some of the key business events and economic indicators upcoming this week:

TRACKING RESIDENTIAL CONSTRUCTION

New government data on residential construction should provide insight into the state of the new-home market.

The Commerce Department is expected to report Tuesday that builders broke ground on new apartments and single-family homes last month at a seasonally adjusted annual rate of about 1.45 million properties. That would be a slight increase from July. Builders are facing rising costs, production bottlenecks and slowing demand amid sharply higher mortgage rates than a year ago.

Housing starts, monthly, seasonally adjusted annual rate:

March 1,716,000

April 1,805,000

May 1,562,000

June 1,599,000

July 1,446,000

Aug. (est.) 1,450,000

Source: FactSet

THE FED SPEAKS

The Federal Reserve is set to release its latest interest rate policy update following a two-day meeting of its policymakers.

At its last meeting in July, the central bank hiked its key short-term interest rate by a hefty three-quarters of a point for a second straight time, it’s most aggressive drive in more than three decades to tame high inflation. Economists and Wall Street traders expect the central bank to once again raise rates by three-quarters of a point Wednesday.

DELIVER THIS

FedEx reports its fiscal first-quarter results Thursday.

The package delivery service recently warned investors that profits for the June-August quarter will likely fall short of forecasts because of a drop-off in business. It’s also shuttering storefronts and corporate offices and expects business conditions to further weaken, hurting results for its current quarter.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

Image: A cargo ship is stuck under the part of the structure of the Francis Scott Key Bridge after ...

Associated Press

Authorities identify 2 bodies recovered at site of Baltimore bridge collapse

A major bridge in Baltimore snapped and collapsed after a container ship rammed into it early Tuesday, and several vehicles fell into the river below.

1 day ago

Photo: Mountaineer Jim Whittaker has died at 95....

Gene Johnson, The Associated Press

Lou Whittaker, among the most famous American mountaineers, has died at age 95

Lou Whittaker, a legendary American mountaineer who helped lead ascents of Mount Everest, K2 and Denali, has died at age 95.

1 day ago

File photo: Former Sen. Joe Lieberman speaks in Washington on Jan. 18, 2024....

Associated Press

Former Sen. Joe Lieberman, Democrats’ VP pick in 2000, dead at 82

Former U.S. Sen. Joe Lieberman of Connecticut, who nearly won the vice presidency on the Democratic ticket with Al Gore in 2000, has died.

1 day ago

islamic state attack...

Vanessa Gera, The Associated Press

What we know after the Islamic State group claims responsibility for Moscow massacre

The Islamic State group has claimed responsibility for an attack on a suburban Moscow concert hall that killed at least 133 people.

4 days ago

Moscow shooting...

The Associated Press

Russia: 60 dead, 145 injured in concert hall raid; Islamic State group claims responsibility

Assailants burst into a concert hall in Moscow on Friday and sprayed the crowd with gunfire, killing over 60 people, injuring more than 100.

6 days ago

Photo: Britain's Kate, Duchess of Cambridge visits 282 (East Ham) Squadron, RAF Air Cadets, Cornwel...

Associated Press

Kate Middleton announces she has cancer, is undergoing chemotherapy

Kate Middleton, Princess of Wales, says she is undergoing chemotherapy to treat cancer. She has been out of view since Christmas.

6 days ago

This Week: Housing starts, Fed policy update, FedEx earns