LAST WEEK

News & Commentary Weekly Highlights:

• Market Watch: China Cuts Key Interest Rates, Reserve Ratio (Friday)
• TIME: Why 75 Is the New 62 for Today’s College Grads (Thursday)
• Bloomberg: World’s Most Liquid Securities Market Starts to Get Gummed Up (Thursday)
• Wall Street Journal: What We Know About the 92 Million Americans Who Aren’t in the Labor Force (Wednesday)
• Wall Street Journal: Debt, Growth Concerns Rain on Deficit Parade (Sunday)

 

Top Economic Indicator Highlights:

Existing Home Sales (September)

• Seasonally adjusted annual pace: 5.55 million units
• Change from previous month: 4.7%
• Change from last year: 8.8%
• Noteworthy: The median sales price of existing homes is down 2.9% from last month to $221,900 in September but is up 6.1% from a year ago.
• Addendum: In other housing market news, the Commerce Department reported a home building rebound earlier this week. Housing starts rose 6.5% in September, led by an 18.3% jump in multifamily units, to a seasonally adjusted annual rate of 1.21 million units.

 

THIS WEEK

Upcoming Economic Reports & Releases:

Major Indicators

• New Home Sales (10am, Monday)
• Durable Goods Orders (8:30am, Tuesday)
• S&P Case-Shiller Home Price Index (9am, Tuesday)
• Gross Domestic Product (8:30am, Thursday)
• Pending Home Sales Index (10am, Thursday)
• Employment Cost Index (8:30am, Friday)
• Personal Income & Outlays (8:30am, Friday)

Reports

• Federal Open Market Committee Meeting Announcement (2pm, Wednesday)

 

Chart of the Week: