Catalysts hosts Seana Smith and Madison Mills break down the latest data from US new home sales and Purchasing Managers' Index (PMI) prints.

New home sales in June fell to 617,000, declining 0.6% and coming in well below expectation of a 3.4% increase. The median new home price declined to $417,300, and the average selling price was just over $487,000. Homes for sale in June rose 0.8% on a month-over-month basis, and the supply was at an average of 9.3.

PMI fell below expectations on the manufacturing front, coming in at 49.5 versus the anticipated 51.6 in the S&P Global US Manufacturing PMI.

However, services PMI came in at 56, higher than the expected 54.9 for the S&P Global US Services PMI.

Overall, the composite beat economic forecasts and was the best reading for those surveys since the spring of 2022.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Melanie Riehl