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Happy Halloween – Market Update – October 30th

Happy Halloween – Market Update – October 30th
October 30, 2017 abryant

Market Report - American Family Funding

Hoping your Halloween is short on tricks and full on treats! Enjoy!

 

No matter how old or how bad a** you think you are, when a toddler hands you their ringing toy phone, you answer it!!

I feel bad for a giraffe who has to throw up.

Shin: a device for finding furniture in the dark.

Now The Market Update . . .

Stocks continue to hit new highs, driven by optimism over new tax regulations and a spurred economy. The rally is putting pressure on rates to move higher.

The European Central Bank is extending their economic stimulus into 2018 but will reduce the amounts. Overall the news was positive for bonds and rates.

The Fed will meet next week for their FOMC meeting. It’s not likely they will raise policy rates next week, but they are expected to do so at the December meeting.

New home sales surged 18.9% in September to the highest level in 10 years. This was a nice recovery after unexpectedly falling 3.4% in August.

Pending home sales were flat in September though, as demand continued to exceed supply. There are some concerns that winter will further reduce inventory.

Mortgage applications for home purchases were down last week. Economists say rates likely had less to do with the drop than the shortage of homes for sale.

A guy shows up late for work.

The boss yells, “You should’ve been here at 8:30!”

He replies, “Why? What happened at 8:30?”

This week’s potential market moving reports are:

Monday, October 30th: Personal Income and Outlays

Tuesday, October 31st: S&P Corelogic Case-Shiller HPI, Consumer Confidence

Wednesday, November 1st: MBA Mortgage Applications, ADP Employment Report

Thursday, November 2nd: First Time Jobless Claims

Friday, November 3rd: National Employment Situation, Factory Orders