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Merry Christmas! – Market Update – December 26, 2017

Merry Christmas! – Market Update – December 26, 2017
December 26, 2017 abryant

Wishing you a Christmas filled with meaningful traditions, your favorite people, and a touch of the unexpected.

Merry Christmas!

When I get the urge to clean the house… I lay down till it passes.

Everywhere is walking distance if you have the time.

Sometimes I listen to stranger’s conversation and mentally give my opinion.

Ever stopped to think and forgot to start again?

Why call it a toothbrush, is it used for brushing a single tooth?

Now The Market Update . . .

The final version of the tax reform plan has been approved by both chambers of Congress. President Trump should sign it into law on or before January 3rd.

Third quarter economic growth estimates were lowered slightly from 3.3% to 3.2%. Even still, the economy grew at its fastest pace in more than 2 years.

Despite a jump in the number of filings for unemployment benefits last week, the underlying trend in jobless claims remained consistent with a strong labor market.

Existing home sales hit an 11-year high in November, despite tight inventory. They rose 3.8% on a year-over-year basis, rising for the 3rd straight month.

New home starts were above expectations for November, at 1.297 million (annualized rate). Single-family housing units surged to a more than 10-yr high.

Pointing to further future increases in inventory, single-family home permits rose 1.4% to 862,000. This is a level not seen since August 2007.

Why does Scrooge love reindeer so much?
Because every single buck is deer to him!

Please note: We will not publish The Markets in a Minute during Christmas week. Hope your holiday is great, and we’ll see you in the new year.

This week’s potential market moving reports are:

Monday, December 25th: Christmas Day – All Markets Closed

Tuesday, December 26th: State Street Investor Confidence Index

Wednesday, December 27th: MBA Mortgage Applications, Pending Home Sales, S&P Corelogic Case-Shiller HPI, Consumer Confidence

Thursday, December 28th: First Time Jobless Claims

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