economic news: Economic and real estate recap! - 11/07/08 05:27 PM
Economic Recap:
Pending home sales for September dropped 4.6%, worse than expected.
Showing extremely weak numbers, total domestic light vehicle sales came in at 7.7 million annual unit sales. This the lowest since the recessionary times in the early 80s. The car rate of 3.9 million is the lowest … (0 comments)
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economic news: G-7 Meets.....What's Next? - 10/11/08 01:07 AM
Group of Seven finance chiefs, vowed to do whatever was necessary to prevent the collapse of major banks.
The policy makers included representatives from the U.S., Japan, Germany, U.K., France, Canada and Italy.
The G-7 policy makers were under pressure to roll out new policies, but they came up short on … (3 comments)
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economic news: Economic Update - 10/09/08 06:39 PM
A couple of things are clear, many people have lost confidence in the financial system and this is not just a U.S. problem as the aftermath of this financial crisis is being felt around the world.
Federal Reserve Chairman Ben Bernanke brokered the broadest coordinated interest rate cut in … (2 comments)
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economic news: Economic Update! - 10/01/08 01:45 PM
Senate is set to vote tonight on an amended bailout bill, which includes temporarily raising the FDIC deposit insurance to $250k and continuing some tax breaks for corporations and individuals. Apparently some in the House are working on an amended bill as well. No House vote is scheduled yet.
… (0 comments)
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economic news: Economic Update! - 10/01/08 01:35 PM
Senate is set to vote tonight on an amended bailout bill, which includes raising the FDIC deposit insurance to $250k and continuing some tax breaks for corporations and individuals. Apparently some in the House are working on an amended bill as well. No House vote is scheduled yet.
The … (0 comments)
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economic news: A perspective on our current....well......financial mess! - 09/29/08 11:52 PM
The severity of the state of our credit markets, should be a wake up call for anyone who has not yet made the time to get educated on what’s been going on in our financial markets, today and over the last 20 years.
Understanding the speculation that led to … (6 comments)
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economic news: Economic Day In Review..... - 09/22/08 05:17 PM
It's clear that the optimism from last Friday has quickly given way to a no confidence vote for Treasury Secretary Paulson's plan.
Today's highlights:
The Dow was down by 372.75 points but the big story is gold rising by $40 and oil rising by $15 per barrel to close at … (5 comments)
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economic news: Economic And Housing Round Up - 09/19/08 12:08 PM
To say that it’s been a crazy week is a gross understatement. Let’s recap some items:
U.S. takes over AIG with a $85 billion bailout. This agreement states that the government is providing AIG with a loan $85 billion over a two year period, offered at 11.5%. The government also gets … (0 comments)
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economic news: Economic Round Up and Burbank Real Estate - 09/16/08 07:49 PM
The Federal Reserve left rates unchanged today, at 2% for the key benchmark, a surprise to some, but while they noted that the financial markets are under more strain with the credit crisis,they cited labor worries and inflation as their top concerns. Providing liquidity for the markets is high on … (1 comments)
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economic news: Economic News And Impacts On Burbank And San Fernando Valley Real Estate - 09/14/08 02:38 PM
Former Federal Reserve Chairman Alan Greenspan, who served as Fed Chairman for 18 years, said this financial crisis will probably lead to the failure of more firms. He went on to say, in his interview with George Stephanopoulos, that this is the worst financial crisis he’s ever seen.
Treasury and … (0 comments)
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economic news: Economic Round Up - 07/28/08 03:27 PM
Although there were no major economic reports out today and the housing reform bill was approved and signed into law this weekend,wil be signed into law, the market could not hold on to positive territory. It's expected that this will help Fannie Mae and Freddie Mac stay in business and will … (0 comments)
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economic news: Economic Round Up - 07/24/08 06:14 PM
There's always the good news and the bad news.......I'll start off and end with the good stuff, there's not much today.
On a positive note crude oil prices have been much lower this past week as the bubble seemingly has burst on the speculation that was driving oil prices … (3 comments)
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economic news: The Economic Week In Review....... - 07/14/08 01:32 AM
The big news for the week came late on Friday.
After market close, it was announced, that IndyMac Bank, a leader in “Alt-A” loans, had been seized by the Office of Thrift Supervision, due to a run on deposits. This made IndyMac Bank the 2nd largest federally insured financial … (2 comments)
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economic news: The Economic Week In Review.... - 06/27/08 03:30 PM
Of note:
*FOMC left rates unchanged with the target funds rate at 2% and the discount rate at 2.25%
* Consumer Confidence-came in at 50.4 one of the lowest readings and some economists are surprised since, in their words, "the expansion of the economy is underway", meaning we … (0 comments)
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economic news: The Economic Week In Review - 05/23/08 10:41 AM
* Leading Indicators, inched up .1% trying to suggest that the economy will not officially dip into a recession.(Monday)
* Producer Price Index .2% increase seems tame following the 1.1% surge last month. (Tuesday)
* FOMC Meeting Minutes the Fed lowered it’s forecast for economic growth and indicated … (1 comments)
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economic news: The Economic Week In Review - 05/02/08 06:31 PM
Consumer Confidence fell from 65.9 to 62.3, lowest level since early 90’s.(Tuesday) FOMC Announcement-Fed lowered interest rates by .25%, to 2%. ,NAPM Chicago Index came in at 48.3. The report also showed that increasing costs of raw … (0 comments)
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economic news: The Economic Week In Review - 04/25/08 06:22 PM
Exisiting Home Sales dropped 2% in March. The bad news was that housing supplies increased to 9.9 months, up .3 from the February number of 9.6. Median prices were up 2.5% to $200,700, but is down 7.7% as compared to the median price in March 2007. State Street Investor Confidence Index … (5 comments)
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economic news: The Economic Week In Review - 04/18/08 04:23 PM
Retail Sales came in +.2%, better than the unchanged number they were expecting. Given that most of this increase came from sales at gas stations, I’m not really sure how you can put a positive spin on it. Business Inventories came in as expected at .6%. Many were hoping to … (0 comments)
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economic news: The Economic Week In Review - 04/11/08 05:27 PM
Consumer Credit-slowed substantially in February, $5.1B v.$10.3 in January. Pending Homes Index-outlook for the housing sector worsened as existing home sales fell 1.9% in February. Given the slowdown in the job market I would say this number will continue to look grim in areas where job losses are the … (2 comments)
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economic news: The Economic Week In Review - 04/04/08 04:21 PM
The Economic Week in Review:
NAPM Chicago Index showed a slight jump in orders, which was positive, but also showed a jump in prices, probably due to rising fuel prices.
Motor Vehicle Sales were weak, lowest rate since 1996, Construction Spending was down but better than expected and ,ISM Manufacturing … (3 comments)
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economic news: The Economic Week In Review - 03/21/08 12:53 PM
The Economic Week In Review is back!
We had a very interesting week to say the least!
Today the markets are closed in observance of Good Friday.
Yesterday the market rose 262 points(2.2%) after a better than expected Philly Fed Manufacturing Index report. The financial stocks led the way, although I … (3 comments)
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economic news: The Economic Week In Review... - 12/14/07 03:51 PM
We had some considerably volatile days this week……what it really boils down to is whether the Fed will be more concerned about the credit meltdown and the housing market versus inflationary pressures on the economy and the dollar’s weakness. Several analysts came out and predicted that we will … (0 comments)
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economic news: The Economic Week Ahead..... - 12/09/07 06:55 PM
Monday 10
Pending Home Sales Index
3 & 6 Month Bill Auction
4 Week Bill and 10 Year Note Announcement
Tuesday 11
FOMC Annoucement-Consensus ranges from 25 to 50 basis points
ICSC-USB Store Sales Tracks comparable weekly sales from major retail chains and represents 10% of total retail … (2 comments)
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economic news: The Economic Week In Review..... - 12/07/07 04:20 PM
After quiet days on Monday and Tuesday, the Dow soared ahead on Wednesday and Thursday, stalled on Friday. The overall weak trend in the data reported works in favor of a rate cut next week. It should be noted however that the stronger numbers in the payroll report could … (1 comments)
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economic news: The Economic Week In Review..... - 11/30/07 03:33 PM
This week saw volatile trading sessions, again, with the Dow down 237 points on Monday, up 217 points on Tuesday, up 332 points on Wednesday, up 20 points on Thursday and up 60 on Friday. Concerns over credit woes continued as well as rumors of Citigroup layoffs.
Items … (0 comments)
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economic news: The Economic Day In Review - 11/21/07 11:39 PM
Very volatile day again!
Some of the volatility has been blamed on Japanese currency traders who were said to be “unwinding” some positions.
Rumors continued about Countrywide possibly having to go into bankruptcy, Countrywide did come out and deny these rumors late yesterday.
Jobless Claims came in as expected but … (0 comments)
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economic news: The Economic Day In Review..... - 11/19/07 04:02 PM
Well, we had quite a volatile day as the Dow closed below the psychological 13,000 mark. Dow was down 218 points and closed at 12958. Items of note:
Goldman Sachs downgraded Citigroup to a sell. Lowe’s lost 7.6% today on weak earnings.The National Association of Home Builders/Wells Fargo Index came in … (1 comments)
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economic news: The Economic Week Ahead..... - 11/18/07 04:57 PM
Monday 19
Housing Market Index-Produced by the National Association of Home Builders. This is a survey which is filled out by the members of this organization and it gives their opinion of the general state of the housing market and the economy.
3 Month & 6 Month Bill Auction
Tuesday … (0 comments)
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economic news: The Economic Week In Review...... - 11/16/07 05:17 PM
This week saw volatile trading sessions , concerns over rising fuel costs and the now usual credit rumors.
Items of note:
Pending Home Sales for September increased 0.2 percent higher to 85.7. But a look at the year over year data – down 20.4 percent — tells a more meaningful story. … (0 comments)
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economic news: The Economic Week Ahead..... - 11/11/07 01:35 AM
Monday 12
US Holiday…..Veteran’s Day!
Pending Home Sales Index
Tuesday 13 ICSC-USB Store Sales Tracks comparable weekly sales from major retail chains and represents 10% of total retail sales. Is considered to be one of the most timely indicators of consumer spending.
Redbook a timely indicator of consumer … (0 comments)
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economic news: The Economic Week In Review.... - 11/09/07 03:52 PM
Very volatile week with lots of interesting news.
The Dow plunged 224 points after a volatile session, the S&P was down 21.07 or 1.4% and Nasdaq was down 68.06 or 2.5%. Financial stocks are under pressure again, and they are bringing down most stocks. Today both Wachovia and Fannie Mae released … (0 comments)
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economic news: The Economic Day In Review..... - 11/07/07 04:44 PM
A wave of negative news hit today....... Washington Mutual was hit by continued allegations of fraudulent appraisals. Additionally, analyst reports came out that questioned the viability of Citibank and others and indicated that banks would write down $100B in portfolio losses this year. Needless to say stocks got hammered with a … (4 comments)
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economic news: The Economic Week Ahead.... - 11/04/07 02:28 PM
Monday 5 ISM Non Manufacturing Survey Consensus 54 This survey consists of almost 400 firms across 60 different sectors. Analysts like to keep an eye on the business activity index of this survey as it gives an indication of economic health.
3 & 6 Month Bill Auction
Tuesday 6
ICSC-USB … (1 comments)
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economic news: The Economic Week In Review..... - 11/02/07 03:50 PM
Lots of news this week……. The real world has crept back into the picture with more dark news on credit. Credit Suisse reported a big writedown in subprime.
But the bigger news was on some analysts reports on Citigroup and Bank of America. The outlook for both of these giants were … (1 comments)
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economic news: The Economic Week Ahead..... - 10/28/07 12:36 PM
Monday 29 3 & 6 Month Bill Auction
Tuesday 30
ICSC-USB Store Sales Tracks comparable weekly sales from major retail chains and represents 10% of total retail sales. Is considered to be one of the most timely indicators of consumer spending.
Redbook a timely indicator of consumer spending and … (2 comments)
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economic news: The Economic Week in Review...... - 10/26/07 03:22 PM
Stocks rallied today with Microsoft's blowout earnings announcement, their fiscal first quarter earnings beat expectations by more than $1 billion and Countrywide's upbeat profit forecast for the future.
Overall, it was another turbulent week with rumors swinging the market every which way. Rumors that the Fed will lower interest rates … (2 comments)
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economic news: The Economic Week Ahead....... - 10/21/07 01:13 PM
Monday 22
3 & 6 Month Bill Auction
Tuesday 23
ICSC-USB Store Sales Tracks comparable weekly sales from major retail chains and represents 10% of total retail sales. Is considered to be one of the most timely indicators of consumer spending.
Redbook a timely indicator of consumer spending and also represents about … (0 comments)
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economic news: The Week Ahead........ - 10/14/07 06:08 PM
Monday 15
Empire State Manufacturing Survey-monthly survey of manufacturers in New York State.Consensus 12.5
3 Month & 6 Month Bill Auction
Tuesday 16
Industrial Production Consensus.1%
Housing Market Index-Produced by the National Association of Home Builders. This is a survey which is filled out by the members of this organization and it gives their … (0 comments)
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economic news: The Week in Review....... - 10/12/07 09:22 PM
The big news was the release of Retail Sales, which increased a larger than expected .6%, best explained by the seasonal back to school rush. The bond market snoozed through the news but the stock market reacted positively.
Items of note:
Consumer Confidence fell to 82, lowest reading in a year, … (2 comments)
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economic news: The Week Ahead.......... - 10/07/07 04:49 PM
Monday 10
US Holiday.....Columbus Day!Tuesday 11
ICSC-USB Store Sales Tracks comparable weekly sales from major retail chains … (0 comments)
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economic news: The Week in Review....... - 09/29/07 07:31 PM
Last week was quite eventful. We saw Existing Home Sales in August come slightly lower than expected, they came in at an annualized pace of 5.50M. The big story, however, was the Home Inventory numbers at an all time high! New Home Sales were down 8.3% to an annualized level … (3 comments)
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economic news: The Week Ahead..... - 09/23/07 03:36 AM
Monday 24
3 & 6 Month Bill Auction
Tuesday 25
Existing Home Sales-consensus 5.50M..... Year to year this number has dropped 9% and housing supply for July was at 9.6 months.
Case-Shiller Home Price Index
ICSC-USB Store Sales Tracks comparable weekly sales from major retail chains and represents 10% of total … (4 comments)
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economic news: The Week in Review....... - 09/23/07 03:13 AM
Last week was quite eventful as we saw the Fed lower interest rates by 50 basis points to 4.75%! This is the first easing in four years!
They forcefully responded to concerns of economic weakness by lowering both the Discount and the Target rate, which are two key rates. This … (1 comments)
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