[10/28/14] Consumer confidence advanced in October as Americans enjoyed further price drops at the gas pump and the job market continued to improve. The Conference Board’s index climbed to 94.5 this month, the highest since October 2007, from a September reading of 89 that was stronger than initially estimated, the New York-based private research group said today. The gauge exceeded the most optimistic projection in a Bloomberg survey of economists. More job security, gasoline prices at an almost four-year low, and a strengthening labor market are setting the stage for a stronger expansion. Bigger wage increases and a reduction in long-term unemployment would help keep sentiment improving and lay the groundwork...Read more
Monthly Archives: October 2014
[10/21/14] Sales of previously-owned homes rose in September to reach their fastest pace in 2014, even though investors are leaving the market. That’s good news for regular people, who are enjoying low mortgage rates and decreased competition for homes.
Sales of existing-homes rose 2.4% in September to a seasonally adjusted annual rate of 5.17 million, according to National Association of Realtors data released Tuesday. Though at their highest pace of 2014, sales remain 1.7% down from a year earlier, when the pace stood at 5.26 million. “Low interest rates and price gains holding steady led to September’s healthy increase, even with investor activity remaining on par with last...Read more
[10/13/14] It's nervous time again on Wall Street. A late-day sell-off on Wall Street sent stocks careening sharply lower again Monday, dashing hopes for a rebound rally after last week's plunge, pushing the major U.S. stock indexes closer to an official 10% correction and causing fresh worries for investors that were celebrating record highs just three weeks ago. Investors hoping for an end to the market's wildest price swings since the fall of 2011 got yet another frightful dose of market volatility Monday when a steep, late-day dive left the Dow Jones industrial average down 223.03 points, or 1.4%, to 16,321.07. It was the Dow's fifth-straight day of...Read more