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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
SaturdayWS: Republicans are powering tax overhaul plans through Congress with remarkable speed, having departed town for a Thanksgiving recess after important victories in the Senate and House.
FridayBB: October Housing Starts were better than expected at +13.7%, to the fastest pace in a year, partly reflecting recovery efforts in the hurricane-stricken South, A pickup in permit applications for one- family dwellings indicates building will remain firm in coming months. Permits, a proxy for future construction of all types of homes, rose 5.9% to 1.3 mln rate (est. 1.25 mln) from a 1.23 mln pace
Gallup: Gallup's November update of Americans' Christmas spending plans finds consumers still poised to splurge, just not quite to the extent seen in October.
ThursdayBB:U.S. filings for unemployment benefits rose to a six-week high of 249K, a move that may partly owe to volatility around the Veterans Day holiday, The 4-week moving average rose to 237,750 vs 231,250.
WednesdayBB: October Retail Sales were better than forecast at +0.2% vs a revised up +1.9% in September, indicating resilient demand heading into the holiday shopping season.
BB: the October CPI was as expected at +0.1% vs +0.5%, but excluding food and fuel accelerated on an annual basis for the first time since January, rose 1.8% y/y vs 1.7% last month.
Gallup: Americans are less likely to mention an economic issue as the most important problem facing the U.S. now than at any point since 1999.
TuesdayBB: the October PPI was higher than expected at +0.4% vs +0.4% in September, boosted by higher margins at fuel retailers, PPI climbed 2.8% from a year earlier, the most since February 2012, after 2.6% gain in prior 12-month period. Ex food and energy, core gauge rose 0.4% from prior month and was up 2.4% from October 2016
Gallup: Americans' confidence in the economy remained steady last week +7, holding at the highest level since mid-August and one of the highest levels in the past nine years.
MondayWS: Eleven Pacific-Rim nations said on Saturday that they had made significant progress toward reaching a major trade pact 10 months after President Donald Trump withdrew the U.S., but disagreements from Canada prevented a final deal.
Economic Reports for the Week ending Friday November 24, 2017
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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