Latest News Updates From Reade Pickert

Buyers snapped up new U.S. homes over the past two months at the fastest pace in more than 12 years, adding to signs of sturdy housing demand amid lower prices and borrowing costs.

Productivity in the U.S. unexpectedly posted the first decline in almost four years and labor costs accelerated, suggesting a pickup in efficiency earlier this year was more of a temporary shift.

The October jobs report is poised to take a hit from the 46,000 striking General Motors Co. employees.

The economy has added millions of jobs and pay gains have accelerated in recent years, but Americans aren’t crazy about their work.

The United States’ merchandise trade deficit with China narrowed in August as exports rose to a five-month high, a possible sign of goodwill from the Asian nation as the countries try to resolve their trade war.

America’s service industries joined manufacturing in taking a big step back last month, fueling concerns that the global slowdown and trade war are weighing more on the broader economy. Stocks, the dollar and Treasury yields all fell after the report.

A measure of U.S. manufacturing unexpectedly fell deeper into contraction, posting the weakest reading since the end of the last recession as a global slowdown and the U.S.-China trade war increasingly weigh on the sector.

Home-price gains in 20 U.S. cities decelerated in July for a 16th straight month, as values proved still too elevated for buyers despite low mortgage rates.

U.S. home construction surged in August to the fastest pace since mid-2007 on more apartment projects and single-family houses, a welcome sign for the housing sector that has struggled to gain momentum.

Companies’ hiring stumbled in August, likely cementing expectations for a second straight Federal Reserve interest-rate cut as trade uncertainty and softer global growth weigh on the outlook.