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Fed Chair Powell moves markets {Market Report} March 5th

Fed Chair Powell moves markets {Market Report} March 5th
March 5, 2018 abryant

Market Report - American Family Funding

 

Music teacher: ‘What’s your favorite musical instrument?’ Kid: ‘The lunch bell.’

Q. How many calories are there in a piece of chocolate? A. Who cares?

Welcome to the 21st century, where people can laugh-out-loud without opening their mouth! #lol

A celebrity is any well-known TV or movie star who looks like he spends more than two hours working on his hair.

Knock knock? How about ding dong we have doorbells now.

 

Now The Market Report . . .

 

New Fed Chair Jerome Powell appeared for his first time in front of Congress this week. He moved markets with his upbeat economic views, pressuring rates.

Consumer prices increased in January, and inflation posted its largest gain in 12 months. Inflation pressures rates higher, including mortgage rates.

The labor market continues to show strength as well. Filings for unemployment benefits fell last week to the lowest level in almost five decades.

 

Home prices accelerated in December, according to a recent Case-Shiller report. Prices were up 6.4% year-over-year with continued strong buyer demand.

Pending home sales were down 4.7% in January. However, the drop is likely due to tight inventory and bad weather rather than increased mortgage rates.

Buyer traffic was strong in January, but listings fell to an all-time low, down 9.5% year-over-year. This can continue to fuel price gains.

 

Middle age is when work is a lot less fun, and fun is a lot more work.

 

This week’s potential market moving reports are:

 

Monday, March 5th:           ISM Non-Mfg Index

Tuesday, March 6th:          Factory Orders

Wednesday, March 7th:    MBA Mortgage Applications, ADP Employment Report

Thursday, March 8th:         First Time Jobless Claims

Friday, March 9th:               National Employment Situation

 

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