Top-of-mind economic news as we start the week:
— Israel and Hamas entered into a multiday truce, diffusing fear of escalating war in the Middle East, with hostage exchanges continuing.
— A key index of U.S. leading indicators fell again in Oct.; Conference Board is forecasting just 0.8% growth for U.S. economy in 2024 and mild recession.
— U.S. existing home sales are down 15% from a year ago, with prices about 3% higher; 29% of sales were cash only in Oct. and 28% were 1st time buyers.
— U,S. consumer sentiment dropped in November to 61 on a key index, while expectations for inflation rose, despite lower CPI readings.
— About half of large companies are reporting some of the carbon emissions from their production chain, while only 10% are reporting on all emissions (Scope 1, 2 and 3).
