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Money Talk Podcast, Friday Aug. 22, 2014

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Landaas & Company newsletter,  August edition now available. 

Advisors on This Week’s Show

Brian Kilb

Marc Amateis

Kyle Tetting

(with Max Hoelzl)

Week in Review (Aug. 18-22, 2014)

Significant economic indicators & reports

Monday

No major indicators

Tuesday

The broadest gauge of inflation rose as expected in July, ranging close to where the Federal Reserve has said economic growth should be sustainable. The Consumer Price Index grew 2% since July 2013, the Bureau of Labor Statistics reported, declining for the second month in a row. The monthly gain was the narrowest since February and included the first drop in gasoline prices in four months. The 12-month inflation rate remains below the 30-year average of 2.8%.

The housing recovery showed a spurt of strength in July as both housing starts and building permits exceeded analyst expectations. The Commerce Department reported new construction reached an annual pace of nearly 1.1 million housing units, up 16% from June and second only to November as the busiest month in the 5-year-old recovery. Building permits, which portend future building, grew at the fastest pace since April. Apartment buildings continued to account for a rising share of new housing. Overall, residential construction is more than 20% behind its 30-year average.

Wednesday

No major indicators

Thursday

The four-week average of initial unemployment insurance claims rose for the second week in a row after reaching the lowest mark in eight and a half years. Data from the Labor Department indicated continued reluctance by employers to let workers go, as jobless applications remained below their long-term average since January 2013.

The National Association of Realtors surprised analysts with a report that existing home sales in July rose to their highest annual pace since September. The trade group credited a greater supply of houses for sale as the inventory swelled to the highest in nearly two years.

The Conference Board’s index of leading economic indicators rose more than expected in July. Economists for the business research group said signs point to continued U.S. economic growth, based in part on strong employment increases. Seven of 10 indicators signaled expansion.

Friday

No major indicators

Where the Markets Closed for the Week

  • Nasdaq – 4,599, up 74 points or 1.7%
  • Standard & Poor’s 500 – 1,988, up 33 points or 1.7%
  • 10-year U.S. Treasury Note – 2.40%, up 0.06 point
  • Dow Jones Industrial – 17,001, up 338 points or 2%

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