Signals of Stronger Growth and Fed Tapering
· Existing home sales rose more than expected in July, but some of the luster was lost from when the new home sales report posted a 13.4 percent drop for the month.
· Minutes from the July FOMC meeting confirmed the timeline for the Fed to begin tapering asset purchases later this year.
· The Leading Economic Index continued to indicate stronger economic growth in the second half of the year. The overall index jumped from a flat reading in June to 0.6 percent in July.
