Author: Zac Martin, Investment Associate
Week Ending November 22nd – MicroStrategy
Building Permits were slightly unchanged for October; however, Housing Starts continue to decline for the third straight month. Year-to-date housing starts have declined 3.1%.
Leading Economic Indicators continues to decline, led by weaker new orders from manufacturing. The LEI has declined 2.2% over the past six months, which is below the recession signal of a decline of 4.4%.
Michigan Sentiment Survey saw slight increases in sentiment about future economic conditions, while sentiment around current economic conditions fell. Additionally, near term inflation expectations declined to 2.6% from 2.7% while long run inflation expectations increased to 3.2% from 3.0%.
The week ahead:
Consumer Confidence, New Home Sales (11/26)
Q3 GQP 2nd Preliminary, Personal Consumption Expenditures (11/27)
FOMC Minutes (11/28)
Earnings: ADSK, BBY, ADI, SJM, CRWD, DELL (11/26)
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