Home Price Growth Rises Again Even though yearly FHFA home price growth fell very slightly, it has been clear for the past few months that home price growth is bottoming. Monthly price growth in the 20 city Case Shiller index was 0.5% in November which beat estimates and the prior reading of 0.4%. M
Stocks Rebound Despite Coronavirus Fears The stock market rebounded on Tuesday after its sharp decline on Monday related to the coronavirus. Even though it doesn’t seem like the increase in cases has slowed, markets looked past this issue. It makes you wonder if the virus was just an excuse to sell
Weak Durable Goods Orders December durable goods orders report was weak as it signaled there will be weak business investment growth in Q4. We already knew business investment would likely fall. This just reiterates that perspective. Hope is capex recovers in 2020 since the regional Fed manufacturin
The Streaks Are Over! Stocks fell on Monday, ending the streak without back to back down days. It ended at 30 days, tying the longest streak since 1955. Furthermore, the 1.57% decline ended the S P 500’s streak without a 1% decline. It reached 74 days which tied the one ending in October 2018. There
Disappointing New Home Sales December new home sales report wasn’t great because November’s reading was revised lower and December’s reading missed the low end of the estimate range. It’s not consistent with the recent strength in housing data especially housing starts, but it’s not weak enough to s
Modest Decline On Coronavirus Fears On Friday stocks couldn’t outlast the coronavirus fears like they did on Thursday as the S P 500 fell 0.9%. The market just avoided a 1% drawdown, as it rallied slightly in the afternoon. There have now been 72 days without a 1% move either way in the S P 500. Nas
Leading Economic Indicators Disappoint Leading economic index was weak, but not weak enough to show negative yearly growth which would be a recession warning. Monthly growth in December fell from 0.1% to -0.3% which missed estimates by a tick. Yearly growth was 0.1%. A few reports are showing growth
S P 500 Rebounds The stock market recovered after a morning selloff related to the coronavirus. From the low on the day, to the close, the S P 500 rose 0.63%. WHO stated, it’s a “bit too early to consider this event as a public health emergency of international concern.” So far, there have been 600
Redbook Same Store Sales Growth Improves Preliminary January consumer sentiment index from the University of Michigan was basically unchanged. As you can see from the chart below, the Bloomberg Consumer Comfort index is at a 19 year high as it has increased with the stock market. Correlation with th
Rally Since The Top Investing is all about perspective. If you look at how stocks have done since Christmas Eve 2018, this looks like an unsustainable bubble. If you look at how stocks have done since the peak on September 2018, the returns are much more normal. S P 500 is up 13.8% since September 2
