The twenty-city S&P/Case-Shiller Home Price Index (which is the leading index for the U.S. residential housing market – tracking changes in the value of residential real estate) saw a 10.9% rise in home prices in the twelve months ending in March. This is the biggest jump in nearly seven years. This strong rise in home […]
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How much longer will the Fed continue to buy bonds…
Last week Ben Bernanke, Chairman of the Federal Reserve, made an important comment about how much longer he will continue the aggressive bond buying program known as Quantitative Easing. While testifying before the Congressional Joint Economic Committee he said the Fed may start to slow the policy at one of its “next few meetings.” Now […]
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Michigan Consumer Sentiment Index Increases
The preliminary Michigan Consumer Sentiment Index (which gives a snapshot of consumer expectations regarding the overall economy) increased to 83.7 this month. This is up from 76.4 in April, and is the highest figure since July 2007. This gain in consumer confidence shows that Americans are gradually overcoming the effects of federal spending cuts (known […]
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The S&P 500 Achieved a Record High
The S&P 500 achieved a record high last week of 1633, driven by better-than-forecast first quarter earnings. The “beat rate” – the percentage of companies that are posting numbers better than consensus – was 69% this quarter, higher than the 62% historical average. S&P companies drove the index to a record high of $26.62 per […]
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US GDP Advanced 2.5% in 1st Quarter
Gross Domestic Product (GDP)-the output of goods and services produced by labor and property in the United States-advanced at an annual rate of 2.5% from January through March. The numbers paint a story similar to previous quarters: consumer spending and housing increased, while government expenditures decreased. For example, consumer spending grew 3.2%, clocking the fastest […]