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Market Commentary

Market Commentary

Market CommentaryFor the week of July 26th, 2021ECONOMIC REVIEW1 Housing starts came in at 1.643 million starts, beating economists’ forecasts of 1.572 millionBuilding permits came in at -5.1%, significantly missing economists’ forecasts of +0.7%Existing home sales came in at 5.86 million units, also missing economists’ forecasts of 5.90 millionInitial Jobless claims came in higher than expected posting a reading of 419,000 versus economists’ forecast of 350,000 and a jum
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Market Commentary

Market CommentaryFor the week of July 19th, 2021ECONOMIC REVIEW1 The Consumer Price Index (CPI) came in stronger than expected for the month of June, with prices increasing 0.9% month-over-month and 5.4% year-over-year.The Producer Price Index (PPI) came in better than expected for the month of June, with prices increasing 1.0% month-over-month and 7.3% year-over-year.Initial jobless claims came in at 360,000 for the week ending July 10th, missing economists’ expectations of 350,000 but st
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Market Commentary

Market CommentaryFor the week of July 12th, 2021ECONOMIC REVIEW1 Initial jobless claims came in above economists’ forecasts with a reading of 373,000 versus the anticipated reading of 350,000.The ISM Services Index for the month of June came in at 60.5, missing the economists’ expectations of 63.5.The Job Openings and Labor Turnover Survey (JOLTS) showed that there are currently 9.2 million open jobs in the U.S. economy. INSIGHT: The economic data released during the shortened week
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Market Commentary

Market CommentaryFor the week of July 2nd, 2021ECONOMIC REVIEW1 Initial Jobless claims came in at a pandemic low, falling to 364,000, beating expectations of 390,000.Non-farm payrolls increased 850,000 for the month of June, ahead of the consensus expectations of 700,000.ISM Manufacturing index fell slightly to 60.6 in June, behind consensus expectations of an increase to 60.9 (a number over 50 signals expansion, and under 50 signals contraction).The unemployment rate rose to 5.9% from 5.8% in M
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Market Commentary

Market CommentaryFor the week of June 14, 2021 The MarketsStocks climbed slightly Friday. The S&P reached a new record, and the NASDAQ posted its fourth winning week in a row as investors shook off a report showing the Consumer Price Index jumped 5 percent in May from a year earlier. For the week, the Dow fell 0.78 percent to close at 34,479.60. The S&P rose 0.43 percent to finish at 4,247.44, and the NASDAQ climbed 1.85 percent to end at 14,069.42.  Returns Through 6/
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