Today’s Top Stories From the Breitbart News Desk

[Maganomics]( Today’s Top Stories From the Breitbart News Desk Applications for purchase mortgages – those used to buy homes – were up last week, a whopping 28% above their year-ago levels. This illustrates the extreme surge in demand for houses is continuing even as the calamitous summer of 2020 winds down. This is even more extraordinary considering that the unemployment rate is expected to come in near 10%, a level that would ordinarily be high enough to depress demand for major expenditures like homes. Manufacturing is also seeing ongoing strength. The Commerce Department reported factory orders rose 6.4% in July, two-tenths of a percent better than expected. The July durable goods orders were revised up to 11.4% from two-tenths of a percent lower, a sign of strong demand in the economy. The ADP numbers came in far worse than expected, at 400,000 new private payroll jobs versus an expected 900,000. But ADP’s numbers have been so wildly off target during the reopening cycle that most investors will likely ignore the headline and pay attention only to the direction, which was an improvement from the prior months. There is some reason, however, to worry about the labor market. The school year is kicking off around the country with many students forced to attend remotely. That means many parents will be forced to stay at home, which could depress hiring. None of that is likely to show up in the August jobs numbers due out Friday, but could show up in the September figures scheduled for release on October 2, one month before Election Day. – Alex Marlow, Breitbart News Network --------------------------------------------------------------- TOP STORY [image] [Factory Orders Jump 6.4% in July, Durable Goods Soar 11.4%]( The resurgence of American manufacturing from the depths of the pandemic continued in July. U.S. factory orders rose 6.4 percent, the third consecutive increase, the Census Bureau reported Wednesday. Orders were up 6.4 percent in June. Economists had forecast a 6.0 percent gain, a slowdown from the month before. Orders for durable goods, those expected to last three years or longer, rose 11.4 percent. That’s an increase from the 11.2 percent rise initially reported and brings manufacturing in line with its pre-pandemic level of activity. [[Click here for more]( Recommended Link [Urgent briefing about China’s next move]( [image]( This is urgent. China’s communist government is now targeting Americans directly. What they plan to do next should have everyone worried... Coronavirus deaths will pale in comparison to the results of this sinister act. Every American needs to watch [this urgent briefing]( to learn more about this shocking situation… and find out how to prepare. [Click here before it’s too late!]( -- IN OTHER STORIES… [Flight from the Cities: Homebuyer Mortgages up 28% From Last Year]( Americans are rushing to buy homes outside of cities inflicted by unrest, lockdowns, and rising violence, pushing purchase mortgage applications into the 15th week of annual gains. Applications for mortgages to purchase homes were up last week 28 percent compared with a year ago, although they fell two-tenths of a percentage point from a week earlier, the Mortgage Bankers Association reported Wednesday. [[Click here for more]( [ADP Private Payroll Survey Shows Accelerating U.S. Employment Growth]( A private survey of U.S. companies showed employment growth picking up last month, although its headline number missed Wall Street expectations. Payroll processor ADP said Wednesday that businesses added 428,000 jobs in August. That figure covers only the U.S. private sector and does not include government jobs gained or lost. The ADP survey has badly undercounted employment since the economy began recovery this summer. [[Click here for more]( [Macy’s Shares Jump After Retailer Reports 53% Rise in Digital Sales]( Macy’s beat Wall Street expectations for second-quarter earnings and sales, thanks in part to an unexpectedly strong surge in online sales. The retailer Wednesday reported a fiscal second-quarter loss of $431 million, after reporting a profit in the same period a year earlier. The New York-based company said it had a loss of $1.39 per share. Losses, adjusted for one-time gains and costs, were 81 cents per share. [[Click here for more]( --------------------------------------------------------------- FROM THE MAGANOMICS INSTITUTE… [Guided by the Science... Really?]( Is our COVID-19 response as rooted in science as officials say? [[Click here for more]( [Decoding Powell-Speak: The Fed’s Latest Plan to Increase Inflation]( The Fed is determined to get the U.S. to a 2% annual inflation rate… and keep it there. [[Click here for more]( --------------------------------------------------------------- Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Ultimate Guide to Taking Back Your Privacy]( [image]( [The Three Best Gold Coin Deals on the Market Today]( [image]( [An Insider's Guide to Making a Fortune from Small Tech Stocks]( [Maganomics]( Maganomics Institute 55 NE 5th Ave, Delray Beach, FL 33484 [www.maganomics.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Maganomics welcomes your feedback and questions. 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