Home sales fall as tight supply boosts prices
WASHINGTON U.S. home resales fell more than expected in April, weighed down by a chronic shortage of houses on the market that is keeping house prices elevated and sidelining prospective buyers.
NEW YORK The New York Federal Reserve said on Friday it raised its outlook on U.S. economic growth in the second quarter, citing positive surprises from industrial production and capacity utilization data in April which helped offset last month’s drop in home construction.
The U.S. gross domestic product was on track to expand at an annualized pace of 2.32 percent, faster than the prior estimate of 1.88 percent on May 12, the New York Fed's "Nowcast" program showed.
(Reporting by Richard Leong Editing by W Simon)
WASHINGTON A U.S. appeals court panel questioned government lawyers at length on Wednesday in oral arguments on whether or not the Securities and Exchange Commission's hiring of administrative law judges for in-house proceedings violated the Constitution.
Digital currency bitcoin hit a fresh record high on Wednesday, surging above $2,400, as demand for crypto-assets soared with the creation of new tokens to raise funding for start-ups using blockchain technology.