Activity Index | Cost of Thanksgiving | Financial Markets

Mortgage and Lending with Benchmark Home Loans 173024

A recent survey from the Chicago Federal Reserve Bank showed that economic activity is running a bit below its potential. The Chicago Fed National Activity Index improved slightly in October, but the three-month average declined. The report said that factory production, housing and consumer spending along with business orders mostly improved in October from September, while employment had a neutral effect. The three-month picture saw that inflation pressure from U.S. economic activity will be limited, said a spokesperson the the Chicago Fed.

The cost for a full Thanksgiving day meal fell modestly this year according to recent figures from the American Farm Bureau Federation. The prices for a classic Thanksgiving day dropped to $49.87 for 10 people, down from the all-time high of $50.11 registered in 2015. When adjusted for inflation, the cost of a Thanksgiving dinner for 10 is lower now than it was 31 years. A 16 pound turkey averaged $22.74 this year, down $0.30 from 2015.

The U.S. financial markets will be closed on Thursday for Thanksgiving. On Friday, the Bond markets will close early at 2:00 p.m. ET, while the Stock markets will close at 1:00 p.m. ET. Stock prices have been on a tear since the election results on November 8. The closely watched Dow Jones Industrial Average is trading at an all-time high on Monday at 18,916 as the new administration is seen as trying to cut regulations, increase infrastructure spending while at the same time lowering taxes.

Posted by

Steve Reed

Benchmark Home Loans

Branch Manager

NMLS #173024

Ark-La-Tex Financial Services, LLC NMLS #2143 

4138 Bristol Highway, Suite #4

Johnson City, TN 37601

Phone 423-232-0111

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