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Now The Market Report . . . |
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October retail sales rose 0.3% over September. The pace was the slowest in 6 months, suggesting consumers may be growing more hesitant to spend as pandemic numbers rise. |
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Congress remains locked in a stalemate over a coronavirus stimulus. Increases in job losses and reduced spending could slow the economic recovery. |
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Jobless claims unexpectedly rose by 31,000 to 742,00 last week, as new business restrictions sparked a fresh wave of layoffs. |
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November’s homebuilder confidence index for construction of single-family homes shattered record highs for the 3rd straight month, as more buyers are heading for the suburbs. |
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Housing starts increased more than expected in October, suggesting low rates and strong demand continue to sustain the housing market. |
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Mortgage applications to purchase a home rose 4% for the week, up 28% annually. Refinance application volume was down 2% for the week but was up 98% over last year. |
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“It is not the ship so much as the skillful sailing that assures the prosperous voyage.” Next week’s potential market moving reports are:
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