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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
ThursdayBB: Sales of previously owned U.S. homes increased more than projected in September by +3.2%, showing residential real estate continues to contribute modestly to growth, National Association of Realtors data showed
BB: Initial Claims for the week ended 10/15 were higher than expected and the 4-week moving average up to 251,750 vs 249,500 the week before.
BB: The European Central Bank kept its quantitative-easing program and interest rates unchanged as suspense builds up over a possible extension of bond-buying later this year.
WednesdayBB: New-home construction in the U.S. unexpectedly fell in September by -9.0%, on a plunge in multifamily building while permits rose more than forecast, in signs of fitful progress in residential real estate.
TuesdayWS:The NAHB housing-market index was better than expected seasonally adjusted 63 in October, which is the second-highest level of the year, following a September reading of 65. A number over 50 indicates more builders view conditions as good than poor.
BB: The September CPI rose as expected by +0.3% vs +0.2% in August, a sign inflation is getting closer to the Federal Reserve’s goal, but ex food and fuel only +0.1%.
Gallup: Gallup's U.S. Economic Confidence Index held steady at -10 last week, in line with readings since late July. Weekly confidence levels in 2016 to date have varied less than in any year since 2008.
MondayBB: A selloff in European government bonds pushed yields on Germany’s benchmark 10-year securities to the highest since the U.K.’s June 23 Brexit vote.
BB: As the yuan plumbs new lows against the dollar, China’s currency is still strengthening against peers, posing a dilemma for the nation’s policy makers as they seek to arrest a plunge in exports and shore up an economy growing at its slowest pace since 1990.
Economic Reports for the Week ending Friday October 21, 2016
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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