The S&P 500 dropped another percent this past week (after a 3% drop the week prior) but Friday showed signs of hope, as the S&P 500 went up 1.3% and recovered some of its recent losses. We had good housing news, as housing starts rose 6.3% in September.
Economic recap from the Week of October 13, 2014:
- The S&P 500 started the week at 1,912 and dropped to 1,887, a 1.0% drop for the week.
- Housing starts rose 6.3% in September. Housing starts are up over 17.8% from a year ago.
- Retail sales declines 0.3% in September. Sales are up 4.3% from a year ago.
- The Producer Price Index (PPI) dropped 0.1% in September. PPI is up 1.6% from a year ago.
- Mortgage rates continued to fall this week. The number of refinances originated were up this past week as rates are now comparable to levels in June of 2013.
What's coming up on the economic calendar for the week of October 20, 2014:
- Existing Home Sales will be released on Tuesday
- The Consumer Price Index (CPI) will be released on Wednesday
- Jobless Claims will be on Thursday
- New Home Sales will be released on Friday
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Our trusted source for all economic news is First Turst Portfolios out of Wheaton, IL. For greater insights on these figures check out their blog here.