Economic News:
Policy uncertainty continued to weigh on the U.S. housing market, as reflected in several economic data releases during the week. The NAHB Housing Market Index edged up slightly to 40 in April but remained below the neutral threshold of 50, signaling ongoing pessimism among homebuilders. NAHB Chief Economist Robert Dietz attributed this to policy uncertainty, which he said hampers builders’ ability to price homes and make key business decisions. This sentiment was echoed in housing starts data released Thursday, showing a more than 11% drop in new home construction in March to an annualized rate of 1.32 million, well below expectations. Homebuilder D.R. Horton also pointed to a slower-than-expected start to the 2025 spring selling season, citing affordability concerns and declining consumer confidence, and subsequently lowered its revenue and closings guidance for the year. Meanwhile, retail sales rose 1.4% in March—the largest monthly gain in over two years—as consumers appeared to accelerate purchases ahead of anticipated tariff hikes, particularly in autos, where sales at motor vehicle and parts dealers jumped 5.3%. Sales also rose in categories such as building materials, sporting goods, and electronics.
What We’re Showing:
Did you know that over one in five U.S. companies fail in their first year? Despite this brutal statistic, a rare few have stood the test of time, not just for decades, but for centuries. In this infographic, we take a look at America’s oldest companies founded in the 1700s. For context, this timeline also includes a selection of younger companies that are widely known.
Key Insights:
Jim Beam A Legacy in American Whiskey:
Founded in 1795 by Jacob Beam in Kentucky, Jim Beam is one of America’s oldest and most iconic whiskey distilleries. Initially named Old Jake Beam Sour Mash, the brand survived Prohibition by temporarily ceasing production and then swiftly restarted in 1933—just 120 days after repeal.
In 2014, the company was acquired by Japanese distiller, Suntory, for $16 billion, leading to the formation of Beam Suntory.
Dixon Ticonderoga The Pencil that Wrote History:
Established in 1795, Dixon Ticonderoga began as a humble graphite pencil company, originally named after Fort Ticonderoga in New York. Contrary to popular belief, the company did not invent the iconic No. 2 yellow pencil, but it popularized it in the early 20th century through widespread adoption in schools nationwide.
JPMorgan Chase Banking Across Centuries:
Founded in 1799 as The Bank of the Manhattan Company by Aaron Burr, is among the oldest financial institutions still operating in the U.S.
The current company was created in 2000 by the merger of J.P. Morgan & Co. and Chase Manhattan Company. As of Q4 2024, it is America’s largest bank with $4 trillion in assets.