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Home construction & sales are on the rise! {Market Report} August 26th

Home construction & sales are on the rise! {Market Report} August 26th
August 26, 2019 abryant

 

Some people can eat anything they want and stay slim. I put on weight just by reading the recipe.

When I get tired of walking around shopping, I sit down and shop online.

Hold on, let me overthink this.

I hate it when people ask me to watch their stuff. Like what happens if someone comes and actually tries to steal it? Do I have to fight them? I’m not ready.

Pro Tip: In the event of a tornado or other such natural disaster, place weiners and/or cheese slices in your pockets so the search dogs can easily find you.

 

Now The Market Report . . .

 

The Fed released the minutes from July’s FOMC meeting, where it cut policy rates by 0.25%. The minutes showed support for future rate cuts only if necessary.

Stocks climbed on strong earnings reports from retailers this week. Gains in earnings highlight consumer confidence and ease fears of a slowing economy.

Jobless claims fell sharply last week, suggesting the labor market is holding firm despite a manufacturing slowdown and concerns about a possible recession.

 

Housing starts dropped for the 3rd straight month in July to 1.191 million units, but a steep decline in construction of multi-family housing units was to blame.

Single-family homebuilding actually increased 1.3% to the highest level in 6 months. Permits surged 8.4% in July, the largest gain since June 2017..

Existing home sales rose 2.5% in July, more than expected. Despite a global economic slowdown, the housing market appears to be strengthening.

 

“You must expect great things of yourself before you can do them.”
Michael Jordan

 

This week’s potential market moving reports are:

 

Monday, August 26th:             Durable Goods Orders

Tuesday, August 27th:             Case-Shiller Home Price Index

Wednesday, August 28th:       MBA Mortgage Applications

Thursday, August 29th:           First Time Jobless Claims, Pending Home Sales

Friday, August 30th:                Consumer Sentiment

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