Stocks and mortgage rates both dropped slightly this past week. Retail sales dropped 0.02% in December but are up 3.2% from a year ago. The markets are closed on Monday for Martin Luther King Jr. Day. We'll receive news on Housing starts and existing home sales later in the week.
Last week in the economy:
- The S&P 500 started the week at 2,045 and dropped 1.26% to end the week at 2,019
- Mortgage rates (The national average) dropped 0.02% (2 basis points) last week.
- Retail Sales declined 0.9% in December. Retail sales are up 3.2% from a year ago.
- Industrial Production declined 0.1% in December. Production is up 4.8% from a year ago.
- The Producer Price Index (PPI) declined 0.3% in December. PPI is up 1.1% from a year ago
What's on the economic calendar for the week of January 19, 2015:
- Monday: All markets will be closed for Martin Luther King Jr. Day
- Wednesday: Housing Starts will be released
- Thursday: Jobless Claims will be released
- Friday: Existing Home Sales will be released
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Our trusted source for all economic news is First Trust Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.