Updated June 24 at 11:28pm
Economic Activity
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Global markets buckled as Britain’s vote to leave the European Union drove the pound to the lowest in more than 30 years and wiped about $3 trillion from stock market values while sparking demand for haven assets from U.S. Treasuries to gold. more
Personal income for the nation climbed 1 percent on average in the first quarter, the same pace as the fourth quarter, and rose in all states, including Rhode Island, except for Wyoming and North Dakota, according to the U.S. Bureau of Economic Analysis. more
President Barack Obama said Friday that the U.S. respects the decision of U.K. voters to leave the European Union, and that the “special relationship” between the countries would endure. more
U.S. stocks tumbled, joining a worldwide selloff with the Dow Jones Industrial Average dropping more than 350 points, as the U.K.’s decision to leave the European Union fanned speculation that a divided Europe would put another brake on already fragile global growth. more
Orders for U.S. business equipment unexpectedly declined in May by the most in three months, pointing to weakness in investment even before the likely damage to confidence stemming from U.K. voters’ decision to leave the European Union. more
A turbulent start to the open of the London market propelled trading volume as much as 700 percent higher than normal, while at least one dark pool was suspended as investors around the globe digested U.K. voters’ decision to leave the European Union. more
Purchases of new homes declined in May from an eight-year high as the housing market continued to display the choppy progress that’s been a hallmark of the recovery. more
Cash purchases of homes in the Providence-Warwick-Fall River metropolitan area continued to fall in March, reaching 23.6 percent of all sales, a 9.2 percentage point decrease from a year earlier. more
The Port of Davisville will receive a $625,000 federal grant to expand capacity for imports and exports including automobiles, cargo and offshore wind components. more
Despite lagging growth, a new law awaiting gubernatorial approval would extend the state’s renewable energy target to 38.5 percent by 2035. more
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