The Day Ahead: Consumer Price Index, Industrial Production, Housing Market Index
Still lower energy costs in December kept the headline CPI soft. The Consumer Price Index in December was unchanged after declining 0.3 percent in November. The December figure matched market expectations for no change.Manufacturing in December was much better than suggested by the headline number for Industrial Production as utilities output was down sharply. Industrial production in December advanced 0.3 percent, following a 1.0 percent rebound in November (originally up 1.1 percent). Analysts projected a 0.2 percent increase for December.The new home market is stalling a bit but following eight prior months of dramatic improvement. The Housing Market Index is unchanged this month at 47, still three points short of the 50 level above which would indicate that more builders describe conditions as good than bad. But one region, the West, is now over 50 at 51. A second region, the Midwest, is right at 50 while the South, at 49, is almost there. The Northeast is dragging the data down, at 36 though the region is up two points in the month.
Dow is trading at 13,494-40.82, the 10 yr bond is at 1.82 from 1.82 Yesterday, . Currently mortgages areunchanged from Yesterday
Conv. - 3.375%
FHA. - 3.25%
God Bless America! Kate Smith click on the link to hear Kate Smith sing God Bless America at the Stanley Cup play off game at the Fliers vs. Canadians hockey game in 1974. It's old but good!
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