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Money Talk Podcast, Friday Dec. 30, 2022

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Landaas & Company newsletter  January edition now available.

Advisors on This Week’s Show

Kyle Tetting

Tom Pappenfus

Paige Radke

with  Jason Scuglik

Week in Review (Dec. 26-30, 2022)

SIGNIFICANT ECONOMIC INDICATORS & REPORTS

Monday

No major releases

Tuesday

Housing inflation continued to slow in October. The S&P CoreLogic Case-Shiller national index rose 9.2% from its year-earlier measure. It was the seventh consecutive deceleration from a record high of nearly 21% in March. An economist with the Case-Shiller index said higher mortgage rates, fueled by Federal Reserve interest rate increases, remains a head wind for home prices.

Wednesday

The National Association of Realtors also blamed higher interest rates for a 4% decline in its pending home sales index. The drop was the sixth in the row for the index, which was down 38% from the year before and stood at the second lowest level in 20 years.https://www.nar.realtor/newsroom/pending-home-sales-slid-4-0-in-november

Thursday

The four-week moving average for initial unemployment claims fell for the third week in a row, suggesting ongoing strength in the labor market. The measure of employers’ willingness to let workers go was 40% below its 55-year average, according to Labor Department data. Total claims numbered more than 1.6 million, up 6% from the week before but down from 2.2 million the year before and 20.4 million at the same time in 2020.

Friday

No major releases

MARKET CLOSINGS FOR THE WEEK

  • Nasdaq – 10466, down 31 points or 0.3%
  • Standard & Poor’s 500 – 3840, down 5 points or 0.1%
  • Dow Jones Industrial – 33148, down 56 points or  0.2%
  • 10-year U.S. Treasury Note – 3.88%, up 0.13 point

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