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Money Talk Podcast, Friday March 25, 2022

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Landaas & Company newsletter  March edition now available.

Advisors on This Week’s Show

Kyle Tetting

Dave Sandstrom

Chris Evers

Kendall Bauer

(with Max Hoelzl, engineered by Jason Scuglik)

Week in Review (March 21-25, 2022)

SIGNIFICANT ECONOMIC INDICATORS & REPORTS

Monday

No major announcements

Tuesday

No major announcements

Wednesday

New home sales for the month of February were below the consensus estimate and the prior month reading of 788,000. This is a volatile data point which ran as high as 1 million through the back end of 2020. New sales are still trending above the pre-pandemic level. There is 6.3 months’ worth of inventory of new homes available and the median price is $400,600. The median sale price for 2021 was $398,000 and $336,000 for 2020.

Thursday

February durable goods orders slid 2.2% following four consecutive monthly increases. Transportation equipment, which is often volatile, dragged on the headline number as it fell 5.6% for the month. Durable goods ex-transportation slid 0.6%. Inventories continue to build for the 13th straight month as stockpiles of durable goods rose 0.4% to $478.5 billion.

The 4-week moving average of unemployment claims continues to trend lower following a short-lived increase in January. The single week claim data of 187,000 (week ending March 19th) was the lowest level since September of 1969. The number of insured unemployed also maintained its path lower as it reported the lowest total since January of 1970.

Friday

Consumer sentiment continues to trend lower on the back of high inflation. One third of respondents expect their overall financial position to worsen in the year ahead, the highest level ever recorded.

MARKET CLOSINGS FOR THE WEEK

  • Nasdaq – 14169, up 275 points or 2.0%
  • Standard & Poor’s 500 – 4543, up 80 points or 1.8%
  • Dow Jones Industrial – 34862, up 107 points or 0.3%
  • 10-year U.S. Treasury Note – 2.49%, up 0.34 point

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