ECONOMIC CALENDAR:Monday: Dallas Fed Mfg. Survey Tuesday: S&P Case-Shiller HPI, Consumer Confidence Wednesday: New Home Sales, EIA Petroleum Status Report, FOMC Meeting Announcement Thursday: Durable Goods Orders, Jobless Claims, Pending Home Sales Index Friday: GDP, International Trade in Goods, Employment Cost Index, Chicago PMI, Consumer Sentiment
- Housing starts drop in December. Groundbreaking on new houses fell 2.5% last month and permits fell 3.9%, adding to concerns about economic growth in the fourth quarter.
- Existing home sales surge. Home resales skyrocketed in December by a record 14.7%, boosted by warmer weather and a stronger labor market that is supporting household formation.
- Consumer prices fall in December. A measure of inflation fell last month as lower gasoline prices weighed on energy costs. Tepid inflation could delay further interest rate hikes by the Federal Reserve.
- Winter storm Jonas slams East Coast. A blizzard covered large swathes of the East Coast in historic levels of snow. The economic disruption of short-lived storms are usually minor, and Jonas may be a win for grocery stores, though it could be a loss for hourly workers.
Quote Of The Week
“Kindness is the one commodity of which you should spend more than you earn.” – T.N. Tiemeyer