DJIA: 34,749.60 (+5.48%)
NASDAQ: 13,893.80 (+8.18%)
S&P 500: 4,463.08 (+6.15%)
Gold: 1,920.10 (-3.27%)
Copper: 472.90 (+2.24%)
Crude Oil: 103.15 (-5.65%)
Stock Rover was reviewed by Joy Wallet, a website created by entrepreneurs, investors, fintech enthusiasts, and writers designed to bring together the brightest minds and organizations to help you make better financial choices. You can read the entire review here.
The Labor Department reported that the producer price index for final demand increased by a seasonally adjusted 0.8% in February after climbing 1.2 % in January and 0.4% in December. On an unadjusted basis, the PPI is up 10.0% for the 12-month period ending in February. A primary contributor to the rise in the final demand index was a 2.4% increase for final demand goods, the largest advance since the series started in December 2009. An 8.2% increase in the index for final demand energy accounted for two-thirds of the increase in the final demand goods index. Prices for final demand services were unchanged in February following a 1.0% jump in January. Increases in final demand transportation and warehousing services (+1.9%), and margins for final demand trade (+0.2%) were offset by a (-0.4%) decline in the index for final demand services less trade, transportation, and warehousing. The producer-price index excluding food and energy rose 0.2% from a month earlier and follows a 0.8% increase in January. On an unadjusted basis, the PPI excluding food and energy is up 6.6% for the 12-month period ending in February.
The Commerce Department reported advance U.S. retail and food services sales increased 0.3% to $658.1B in February, this follows an upwardly revised 4.9% increase for January. Retail sales are running 17.6% higher than a year ago. Total sales for December 2021 through February 2022 were up 16.0% year over year. Contributing factors included increases from gas stations (+5.3%), bars and restaurants (+2.5%), and miscellaneous stores (+1.9%); which were offset by decreases from nonstore retailers (-3.7%), health and personal care (-1.80%), and furniture (-1.0%). When sales for gas stations and autos are excluded, retail sales fell -0.4%. Core retail sales, a measurement that excludes spending on autos, gasoline, building materials, and food services increased by +0.2%, following a 4.4% jump in January.
The U.S. Census Bureau reported new residential building permits were down 1.9% in February to a seasonally adjusted 1.859M, 7.7% above the February 2021 rate of 1.726M. Single-family permits were down .5% to 1.207M, from a revised January figure of 1.213M. New residential building permits increased in the Northeast leading (+22.7%) and the West (+2.1%), while the Midwest (-8.4%), and South (-5.5%) saw declines. Privately-owned housing starts were up 6.8% to 1.769M, 22.3% above the February 2021 rate of 1.447M. Much of the overall increase in housing starts is attributed to a 5.7% increase in single-family starts. Single-family homebuilding increased in the Northeast (+28.7%), Midwest (+15.3%) and South (+11.4%), but fell in the West (-11.4%). Privately-owned housing completions were reported at 1.309M, up 5.9% from January, but down 2.8% over February 2021. Single-family housing completions came in at 1.034M, a 12.1% increase from January.
Wednesday March 23 – New Home Sales (February)
Thursday March 24 – Core Durable Goods Orders (MoM)
Your email address will not be published. Required fields are marked *
We value your privacy and will not display or share your email address
This site uses Akismet to reduce spam. Learn how your comment data is processed.