Stocks had a nice recovery this week, rising 1.61%. Mortgage rates (the national average) continued to slip, dropping another 2 basis points (0.02%). We received good housing news as Housing Starts and Existing Home sales both rose in December.
Last week in the economy:
- The S&P 500 started the week at 2,019 and rose 1.61% to end the week at 2,052
- Mortgage rates (The national average) dropped 0.02% (2 basis points) last week.
- Existing Home Sales rose 2.4% in December. Sales are up 3.5% from a year ago.
- Housing Starts rose 4.4% in December. Starts are up 5.3% from a year ago.
- The markets were closed on Monday because of Martin Luther King Jr. day
What's on the economic calendar for the week of January 26, 2015:
- Tuesday: New Home Sales and Durable Goods will be released
- Wednesday: FOMC Announcements (Monetary policy body of Federal Reserve System)
- Thursday: Jobless claims will be released
- Friday: GDP 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.