Building permits in the U.S. hit a 4-year high

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Source: Bloomberg
© Scanpix/AP

Census Bureau reported on Wednesday that the number of new-home construction surged last month in the U.S., reaching a 4-year high and adding to signs of recovery. Housing start grew to 872,000 at an annualized rate, which was a 15% jump and the highest level since July 2008. Economists, however, expected that the building permits would reach only 770,000.

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Wed, 17 Oct 2012 14:58:23 GMT

U.S. stocks gain on housing starts

On Monday, futures for U.S. stocks were traded higher, as U.S. housing starts surged more than expected, reaching the highest level since July 2008. S&P 500 futures expiring in December increased by 0.3% and reached 1,452.8 by 8:44 a.m. New York time. The index has grown by 1.8% since the beginning of the week.

Wed, 17 Oct 2012 14:30:24 GMT

Pound higher on job data

On Wednesday, the British Pound was traded higher versus the U.S. Dollar, following U.K. employment data by the Bank of England, which showed that more Britons were working than it was expected. The Sterling added 0.3% versus the U.S. counterpart, reaching the level of $1.6168, which was the highest since Oct. 5, when the currency hit $1.6218.

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