After a few tough weeks the stock market rebounded and had it's best week since 2013. The S&P 500 rose a whopping 4.15% this past week. In housing news, both single family home sales and existing home sales rose in September.
Economic recap from the Week of October 20, 2014:
- The S&P 500 started the week at 1,882 and rose 4.1%, finishing the week at 1965.
- Single family home sales rose 0.2% in September. Sales are up 17% from a year ago.
- The Consumer Price Index (CPI) increased 0.1% in September. The CPI is up 1.7% from a year ago.
- Existing home sales rose 2.4% in September. Sales are down 1.7% from a year ago.
- Mortgage rates ended nearly unchanged from the week prior.
What's coming up on the economic calendar for the week of October 27, 2014:
- Pending home sales will be released on Monday.
- Durable goods orders will be released on Tuesday.
- The FED makes a statement on Wednesday.
- On Thursday, 3rd quarter GDP figures will be released.
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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.