This Week in the Economy - An Economic Summary for October 27, 2014

Posted by Laine Smith on 10/27/14 6:30 AM

Topics: Economy

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. 

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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.

 

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