CONSUMER SENTIMENT HITS A 4-YEAR PEAK May’s initial Thomson Reuters/University of Michigan consumer sentiment survey came in with an index reading of 77.8, the highest mark since January 2008. The current economic conditions sub-index rose to 87.3 from last month’s final 82.9 reading. Descending oil and gas prices may have been factors promoting some BIGGEST [...]
UNEMPLOYMENT DOWN TO 8.1% The jobless rate dipped 0.1% in April, but Wall Street didn’t exactly cheer about it as just 115,000 non-farm jobs were added to the economy. Economists polled by Briefing.com thought payrolls would expand by 162,000. The Dow fell 168 points Friday on the news. On the bright side, job gains across [...]
CONSUMER PRICES ROSE 0.3% IN MARCH Last month’s gain in the federal government’s Consumer Price Index matched the consensus forecast of economists polled by Briefing.com and followed gains of 0.4% in February and 0.2% in January. Gasoline prices were up 1.7% last month. Core CPI rose 0.2%, so that put annualized consumer inflation at 2.7%, [...]
WEEKLY QUOTE “He who lives by the crystal ball soon learns to eat ground glass.” – Edgar
WEEKLY QUOTE “It is every man’s obligation to put back into the world at least the equivalent of what he takes out of it.” – Albert HOUSING MARKET COOLS DOWN IN February Nationally, home sales took a step back last month. Last week, the National Association of Realtors reported a 0.9% drop in residential resales in [...]
WEEKLY QUOTE “A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.” – Winston PRICES RISE MOST IN TEN MONTHS Consumer prices were up 0.4% in February according to the Commerce Department, yet core inflation rose only 0.1%. A 6% jump in gasoline prices represented 80% of the Consumer Price [...]
Presented by Mark Lund, Investor WEEKLY QUOTE “Science is the great antidote to the poison of enthusiasm and superstition.” Adam 227,000 NEW JOBS, BUT JOBLESS RATE STILL AT 8.3% While unemployment levels remained unchanged in February, Labor Department data showed that nonfarm payrolls expanded by more than 200,000 positions for the third straight month. The private [...]
WEEKLY QUOTE “Love is the master key that opens the gates of happiness.” – Oliver Wendell OIL APProaches $110 PER BARREL As NYMEX crude futures settled at $109.77 Friday, economists wondered how the U.S. consumer might cope if $5 gas became a reality. Spurred by supply concerns and heightened tensions over Iran’s nuclear program, crude had [...]
WEEKLY QUOTE “In times of rapid change, experience could be your worst enemy.” – J. Paul CONSUMER PRICES UP 0.2% for January Major factors in this increase in the Consumer Price Index include a 0.9% rise in the price of clothing as well as rising rents and healthcare costs. Core CPI also rose 0.2% in January. [...]
WEEKLY QUOTE “A successful person is one who can lay a firm foundation with the bricks that others throw at him or her.” – David WILL THE MORTGAGE ACCORD BRING MUCH RELIEF? While the $25+ billion settlement reached last week between five large mortgage servicers and 49 states was momentous, it may not help many borrowers [...]
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