ECONOMIC BELLWETHER Government data on residential construction should provide insight into the state of the new home market. The Commerce Department is expected to report Wednesday that builders broke ground on new apartments and single family homes in June at the slowest pace since February. U.S. home construction slipped a bit in May as a sharp drop in single family construction was only partially offset by a rise in apartment building.
Housing starts, monthly, seasonally adjusted annual rate: Jan. 1,291,000 Feb. 1,149,000 March 1,199,000 April 1,281,000 May 1,269,000 June (est.) 1,260,000 Source: FactSet AHEAD IN THE CLOUD Microsoft's efforts to draw businesses onto its cloud computing platform are paying off.
The software pioneer's fast growing cloud computing services are a key reason the company's earnings and revenue increased in the first three quarters of its fiscal year. Wall Street expects Microsoft will deliver the goods again on Thursday, when it reports its fiscal fourth quarter results.