Five interesting things that Hodges Capital research analysts discovered this week...
#1 LABOR PAINS: U.S. July job openings fell to their lowest level since January 2021. Per Piper Sandler, cyclical openings are sitting at pre-covid levels despite higher unemployment, and some of the drivers of cyclical job growth like construction fell below pre-covid levels.
#2 FEAR OF AI? According to a recent Gallup poll, 31% of Americans believe AI will be more harmful than beneficial, while 13% see a net positive. 56% of Americans are neutral on the topic.
#3 DOWN PAYMENT: The typical homebuyer’s down payment is a record $67,500, up 15% Y/Y, according to Redfin.
#4 GOVERNMENT SHUT DOWN: Per the Committee for a Responsible Federal Budget, there have been 20 “funding gaps” since Congress introduced the modern budget process in 1976. There have been four true shutdowns where operations were affected for more than one business day, with the longest lasting 35 days.
#5 USELESS INFORMATION: TYPEWRITER is the longest word you can type using only the letters on one row of the keyboard (SkillPath)
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