Image source: pexels.com Holiday Sales, According to Wall Street, are more Scrooge-like than Santa Investors and economists have plenty to ponder this week regarding the status of the housing industry, the general soundness of the economy, and the current trajectory of inflation as the calendar counts down to the holidays and the end of the year. There is no reason to believe that the final month of 2022 will see any improvement as builders cope with high mortgage rates and declining demand. Builder confidence in the organization declined in November to its lowest level since 2012, marking its 11th consecutive month of decline. Image source: pexels.com Lifting of Asylum Restrictions is Temporarily Blocked by the US Supreme Court The Supreme Court has temporarily blocked an order which would have lifted constraints on the asylum seekers which have been in place since start of the coronavirus pandemic, but the brief order leaves open the possibility that restrictions, which were used to turn away thousands of potential asylum seekers, may expire on Wednesday. Image source: pexels.com Experts are Still Surprised by the U.S. Economy, and this Week's Significant Reading on Inflation will only Add to the Confusion The Labor Department's July monthly jobs data was keenly anticipated by economists the week before. The Federal Reserve's anti-inflation monetary strategy would be put to its first major test in wake of two consecutive 75 basis point increases in interest rates intended to slow economy by stifling demand and cooling labor market. A typical but unofficial indicator of a recession, second quarter's GDP has already seen a second consecutive decline in output. Image source: pexels.com What to know Ahead of a Winter Storm that will reach Southeast Michigan Just before Christmas This holiday weekend, drive carefully: In the days before Christmas, a winter storm is anticipated to make landfall in southeast Michigan. According to the National Weather Service, temperature is anticipated to drop from roughly 40 degrees on Thursday to the upper teens on Saturday and Sunday. Image source: pexels.com Expert Says 60% of China May Become Infected in 3 Months: "Thermonuclear Bad" Recently, a designated crematory in Beijing for Covid-19 sufferers has been inundated with dead bodies. Over the next 90 days, the epidemiologist predicts that more than 60% of China and 10% of the global population will likely contract the disease, with millions of deaths inevitable. Image source: pexels.com Gold Reaches a Fresh Record High Due to record-high prices over past two weeks, gold has continued to dominate the market. On Monday, price of gold surged by Rs2, 200 to an all-time high of Rs174, 900 per tola (11.66 grammes).