The Economic Week in Review:
- Existing Home Sales rose 2.9% in February, housing supply is sitting at 9.6 months nationally.
- The Case Shiller Index came out with LA County down 16.5%.
- Consumer Confidence continued it’s downward spiral to lowest level since 2003
- New Home Sales were down 1.8% to a 13 year low.
- Durable Goods dropped for second month in a row, giving credence to the fact that we are already in a recession.
- Jobless Claims were improved.
- Personal Income and Outlays rose more than expected, but they cite technical reasons for this, such as Medicare Part D payments and government assistance that were given out.
- Consumer Sentiment showed slight weakness, not enough to upset the markets.
- Markets ended the week down 1.2% at 12216.40. Of the 30 Dow components, 22 posted losses.
- Bonds…2 year 1.69%, 5 yr. 2.54% and the 10 yr. 3.48%.
More at
Burbankmarketreport.com.....
Great summary! Thanks for taking the time to put it together.