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Landaas & Company newsletter December edition now available.
Advisors on This Week’s Show
Kyle Tetting
Adam Baley
Kendall Bauer
(with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik)
Week in Review (Dec. 25-29, 2023)
Significant Economic Indicators & Reports
Monday
No major releases
Tuesday
Housing inflation continued to climb in October. The S&P CoreLogic Case-Shiller national index rose 4.8% from its year-earlier measure. It was the fifth consecutive acceleration and the ninth in a row, based on seasonally adjusted monthly gains. A representative for the index described broad-based price growth nationwide reaching its fastest pace since 2022, when the Federal Reserve began a string of interest rate increases. With rates easing in recent months, analysts expect home prices to keep escalating.
Wednesday
No major releases
Thursday
The four-week moving average for initial unemployment claims fell for the third week in a row and the fifth time in six weeks, suggesting ongoing strength in the labor market. The measure of employers’ willingness to let workers go was 42% below its 56-year average, according to Labor Department data. Total claims reached more than 1.8 million, down less than 1% from the week before but up 17% from where it stood at the same time in 2022.
The National Association of Realtors said softer mortgage rates spurred more interest in home buying in November, but its pending home sales index remained unchanged from the month before. The index was down more than 5% from the year before. The trade group said lower mortgage rates and the prospect of the Fed reducing interest rates in 2024 should boost home sales in the new year.
Friday
No major releases
MARKET CLOSINGS FOR THE WEEK
- Nasdaq – 15011, up 19 points or 0.1%
- Standard & Poor’s 500 – 4770, up 15 points or 0.3%
- Dow Jones Industrial – 37689, up 303 points or 0.8%
- 10-year U.S. Treasury Note – 3.87%, down 0.4 point
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