Rover's Weekly Market Brief — 12/29/2017

December 29, 2017 Printer Friendly Printer Friendly


DJIA: 24,721.80 (-0.13%)

NASDAQ: 6,903.00 (-0.82%)

S&P 500: 2,675.00 (+0.89%)


Gold: 1,305.50 (+2.09%)

Copper: 328.60 (+2.07%)

Crude Oil: 60.16 (+2.89%)


Standard & Poor’s CoreLogic Case-Schiller national home price index found home prices in October rose +6.2% year over year compared to a +6.1% year over year increase the previous month. The report’s 20-city composite rose +6.4% year over year vs +6.2% for the previous month. Of the cities included in the 20 city composite, Seattle (+12.7%), Las Vegas (+10.2%), and San Diego (+8.1%) had the highest yearly price increases. The National Association of Realtors (NAR) noted minor gains in pending home sales for November, but cited +5.8% sales price increases, which were double wage growth, along with limited supplies as factors holding down residential sales.

The Conference Board’s Consumer Confidence Index fell to 122.1 in December from November’s 17-year high of 128.6. Confidence in the economy increased in that more consumers considered present day business conditions to be “good” (35.2%, +0.2%) with fewer considering them bad (12.3%, -0.2%) and the number of consumers who felt that jobs were “hard to get” fell to a 16-year low of 15.2% (-1.6%). However, confidence decreased with fewer consumers believing jobs were “plentiful” (35.7%, -1.8%), fewer believing there would be more jobs in the months ahead (18.4%, -2.9%), fewer believing business conditions would improve (20.2%, -2.9%), and more believing business conditions would get worse (9.2%, + 2.5%). Short term income prospects were mixed, with 22.3% (+2.0%) expecting improvements and 8.9% (+1.3%) expecting decreases.

The trade deficit in goods increased +2.3% to $69.7 billion in November, with a +$3.8 billion increase in exports to $133.7 billion unable to keep up with a +$5.4 billion increase in imports to $203.4 billion. Exports increased primarily for capital goods (+$2400 million, +5.6%), automotive vehicles (+$949 million, +7.5%), and consumer goods (+$654 million, +4.0%), and imports increased for industrial supplies (including petroleum products) (+$2010 million, +4.7%), capital goods (+$1426 million, +2.6%), and consumer goods (+$2103 million, +4.2%). Wholesale inventories were up +0.7% in November, with a +0.2% (+$929 million) increase for durable goods and a +1.4% (+$3295 million) increase for nondurable goods, while retail inventories were relatively unchanged for the month, with a -$55 million (0%) drop in automobile inventories and a +$635 million (+0.2%) increase in all other retail products.

Upcoming Economic Reports:

Friday January 5 – Employment Situation

Friday January 5 – International Trade

Earnings Calendar:


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