2/04/2019

Market News

  • The Case-Shiller home price index appreciated at a slower pace in November, marking the slowest annual pace of appreciation since 
  • January 2015. Month-over-month the index is up 0.3% and year-over-year the index is up 4.7%.
  • Despite having no reports for January due to Federal Partial Shutdown now information is flowing, 
  • until we hit another wall
  • In January, consumer confidence declined, most likely due to the 35-day government shutdown. 
  • The index plunged from 126.6 in December to 120.2 in January.
  • For the week ending 1/25, new purchase applications were down 2.0% 
  • and refinance applications dropped 6.0% for a composite decrease of 3.0%.
  • The ADP employment report added 213,000 jobs in January. Large firms added 66,000 jobs, 
  • midsize companies added 84,000 jobs and small businesses added 63,000 jobs.
  • Although the government has reopened, the release of the first estimate for fourth-quarter
  •  Gross Domestic Product has been delayed until further notice.
  • The pending home sales index declined in December, down 2.2% month-over-month and 9.8% year-over-year.
  • After hitting a record low the previous week, initial jobless claims increased to a 
  • seasonally adjusted annual rate of 253,000, for the week ending 1/26. 
  • Continuing claims also increased to a level of 1.78 million.
  • The release of November’s new home sales report was delayed because of the
  •  government shutdown and released last Thursday. In November, new home sales soared a staggering 17% month-over-month, marking a 2.7% annual increase, and reaching a seasonally adjusted annual rate of 657,000 homes.
  • In January, the labor market continued to show strength with the addition of 304,000 nonfarm payrolls,
  •  296,000 private payrolls, and 13,000 manufacturing payrolls. The unemployment rate ticked upward to 4.0%.
  •  The participation rate was virtually unchanged at a rate of 63.2%. 
  • Average hourly earnings increased 0.1% month-over-month and 3.2% year-over-year.
  •  The average workweek totaled 34.5 hours.
  • US construction spending tracks total spending on private and public construction project. 
  •  Total construction spending increased 0.8% month-over-month and 3.4% year-over-year.
  • In January, the consumer sentiment index inched up to a level of 91.2.
This week's important economic reports include:
  • ISM manufacturing index
  • MBA applications
  • State of the Union address
  • Weekly jobless claims
  • Consumer credit
WEEK OF FEBRUARY 4, 2019