Back to basics



You can probably guess how powerful it is.
Oilfield services providers such as Halliburton have been helped by a boom in North American drilling even though oil has stayed below $50. U.S. rig count rose to 764 in the week ending July 21, compared with 371 rigs in the same week a year ago.

U.S. home resales volumes fell more than expected in June as a dearth of properties pushed house prices to a record high. May's sales pace was unrevised at 5.62 million units. The shortage of properties has led to bidding wars, which have culminated in house price increases outpacing wage gains.
