New home sales extended this year's slump by dropping 12.6% in July to 511,000 annualized, following a 7.1% drop in June.
The idea of placing a cap on the price of Russian oil leaves the question of enforcement-or how to prevent Russia and other nations from getting around the cap.
New filings for jobless benefits last week rose by 3.8% to 244,000 while producer inflation rose by a surprisingly strong 1.1% in June.
Retail sales dropped by 0.3% in May, a decline from a downwardly revised 0.7% increase in April, the U.S. Census Bureau reported on Wednesday.
The impact of global market forces like the war in Ukraine and OPEC far outweighs whatever influence retailers or refiners have on the prices that consumers pay…