Market Update for January 2017

January 8, 2018

THE MONTH IN BRIEF Financially speaking, the last month of 2017 was also the year’s most newsworthy. Congress reformed federal tax law to a degree unseen since the 1980s, the Federal Reserve raised the benchmark interest rate, and bitcoin took its investors for a wild ride. Hiring, retail sales, and personal spending numbers were all…

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Market Update for December 18th, 2017

December 18, 2017

FED MAKES ITS FINAL RATE MOVE OF 2017 As expected, the Federal Reserve raised the benchmark interest rate by 0.25% last week. The Federal Open Market Committee voted 7-2 to take the target range for the federal funds rate up to 1.25-1.5%. Fed officials made little change to their dot-plot chart – they still see…

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Market Update for October 30th, 2017

October 30, 2017

THIRD QUARTER SAW SOLID ECONOMIC GROWTH Friday, the Bureau of Economic Analysis issued its first estimate of Q3 GDP: 3.0%. Its report showed increases in personal spending and business stockpiling offsetting a dip in home building. The economy grew 3% or more for a second straight quarter for the first time since 2014. Growth has…

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Market Update for October 23rd, 2017

October 23, 2017

SEPTEMBER SAW SLIGHTLY MORE HOME BUYING Existing home sales advanced 0.7% last month, according to a National Association of Realtors report. This gain broke a 3-month streak of retreats. Single-family home sales rose 1.1%. Housing inventory increased 1.6% last month, but it was still 6.4% under year-ago levels.1 GROUNDBREAKING FALLS TO A 12-MONTH LOW Housing…

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Market Update for October 16th, 2017

October 16, 2017

RETAIL SALES, SENTIMENT NUMBERS IMPRESS Two economic indicators stood out last week. Retail purchases rose 1.6% during September as households and businesses replaced cars and trucks damaged in hurricanes. This was the best monthly advance recorded by the Department of Commerce since March 2015, and the gain was 1.0% even with auto buying removed. The…

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