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Landaas & Company newsletter August edition now available. Advisors on This Week’s Show Kyle Tetting Brian Kilb Dave Sandstrom (with Max Hoelzl and Joel Dresang, engineered by Jason Scuglik) Week in Review (July 27-31, 2020) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday Auto makers led a 7.3% surge in durable goods orders in June. The gain in manufacturing followed a 15.1% increase in orders in May and an 18.3% decline in April. Aircraft —both commercial and military—held back overall gains in June. Excluding transportation, orders rose 3.3%. Compared to June 2019, total orders were down 13.3%; they were 3.8% lower excluding transportation. Tuesday Housing costs continued to outpace overall inflation in May as the S&P CoreLogic Case-Shiller home price index posted a 3.7% increase from May 2019. The gain was down from a 3.9% increase in April, the first deceleration since August. With data from Detroit delayed, prices from each of the other places in the 20-city composite index increased from the year before, led by a 9% rise in Phoenix. The Conference Board said its consumer confidence index slipped in July on lower optimism for future prospects, especially in Michigan, Florida, Texas and California—all areas experiencing resurgence in the COVID-19 coronavirus. The business research group said uncertainty over the pandemic doesn’t bode well for economic recovery or the consumer spending that drives about 70% of U.S. gross domestic product. Wednesday The National Association of Realtors said its index of pending home sales jumped 16.6% in June as the pandemic-delayed real estate season took off amid low mortgage rates. Contract signings were 6.3% ahead of year-earlier pending sales, prompting the trade association to raise its 2020 forecast to 5.6 million homes. The group expects a 3% decline in existing home sales this year and a 3% rise in new homes. Its projections include 4% price appreciation for homes this year and mortgage rates around 3% for the next year and a half. Thursday The U.S. economy sank at an annual pace of 32.9% in the second quarter, more than triple the rate of the previous worst three months in data going back to 1947. Shutdowns and job losses resulting from the pandemic were on top of a 5.1% contraction in gross domestic product in the first quarter, according to preliminary estimates from the Bureau of Economic Analysis. Consumer spending, which accounts for about 70% of U.S. economic activity, fell at an annual rate of 34.6% in April, May and June, following a 6.9% drop in the first quarter. About the only part of the economy expanding in the second quarter was federal spending, which economists believe will help save the economy from more dire consequences. The four-week moving average for initial unemployment claims rose for the first time in 14 weeks as a resurgence in COVID-19 cases has prompted more layoffs. The Labor Department said weekly claims rose for the second week in a row, eclipsing 1.4 million applications after trailing off from a record 6.9 million at the end of March. More than 30 million Americans were receiving unemployment benefits, up from 1.7 million at the same time last year. The latest numbers include 13 million receiving pandemic relief. Friday The Bureau of Economic Analysis said consumer spending—which drives more than two-thirds of economic activity—rose 5.6% in June following an 8.5% increase in May. However, the pace of spending remained more than $1 trillion or 6.9% behind the pace in February, before widespread closings from the pandemic. Continued drop-offs in government subsidies accounted for the bulk of the 1.1% decline in personal income in June, which followed a 4.4% decrease in May. The personal saving rate fell to 19% of disposable income in June after reaching as high as 33.5% in April but remained far ahead of the 7.6% rate in January. The Federal Reserve’s favorite measure of inflation reached an annual rate of 0.
Landaas & Company newsletter July edition now available. Advisors on This Week’s Show BOB LANDAAS KYLE TETTING ART ROTHSCHILD STEVE GILES (with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik) Week in Review (July 20-24, 2020) SIGNIFICANT ECONOMIC INDICATORS & REPORTS Monday No major announcements Tuesday No major announcements Wednesday After three months of declines, existing home sales bounced back with a record rebound in June, according to the National Association 0f Realtors. The trade group said houses sold at a seasonally adjusted annual rate of 4.72 million in June, up 20.7% from the pace in May. The sales rate in February, before widespread shutdowns from the COVID-19 pandemic, was 5.72 million, 17% higher than the June pace. An economist for the Realtors said the housing market comeback should be sustainable as long as mortgage rates remain at record lows and employers continue to hire back workers. A longstanding low inventory of houses for sale should continue to push up prices. The median selling price rose 3.5% from June 2019, the 100th straight year-to-year increase. Thursday The four-week moving average for initial unemployment claims declined slightly for the 13th week in a row, but weekly applications rose for the first time since peaking at nearly 6.9 million at the end of March. Job losses from the COVID-19 virus and closures to limit its spread appeared to be on the rise again as more cases flare. Data from the Labor Department shows the four-week average more than 1 million applications above its long-term average and more than quadruple its level in April 2019, which marked a 50-year low. The U.S. economy could remain in recession territory for some time yet, according to the June index of leading economic indicators. The Conference Board said its index rose 2% from May, thanks to improvements in labor conditions and stock prices, but broader financial indicators and consumer confidence suggest the economy remains weak. The business research group said between the index and a resurgence in coronavirus cases, economic recovery remained at bay. Friday The combination of low mortgage rates, pent-up demand and more reopenings in June sent the annual rate of new-home sales to its highest level since 2007. The Commerce Department said Americans bought new houses at a pace of 776,000 in June, up 13.8% from the May rate and up 6.9% from June 2019. Sales soared especially in the Northeast and West, the first areas of the country to shut down to thwart the spread of the coronavirus. Inventories of new houses for sale fell to their lowest level in four years, a sign that demand is outstripping supply, which has fueled price increases. The median sales price rose 5.6% from the year before. MARKET CLOSINGS FOR THE WEEK Nasdaq –10363, down 140 points or 1.3% Standard & Poor’s 500 – 3216, down 9 points or 0.3% Dow Jones Industrial – 26469, down 203 points or 0.8% 10-year U.S. Treasury Note – 0.59%, down 0.04 point Send us a question for our next podcast. Not a Landaas & Company client yet? Click here to learn more. More information and insight from Money Talk Money Talk Videos Follow us on Twitter. Landaas newsletter subscribers return to the newsletter via e-mail
Landaas & Company newsletter July edition now available. Advisors on This Week’s Show Bob Landaas Kyle Tetting Brian Kilb Steve Giles (with Max Hoelzl and Joel Dresang, engineered by Jason Scuglik) Week in Review (July 13-17, 2020) Significant economic indicators & reports Monday No major releases Tuesday The broadest measure of inflation rose at a 0.6% annual rate in June, the Bureau of Labor Statistics said. The year-to-year increase in the Consumer Price Index matched the gain for the month, which followed three straight months of declines, unprecedented in 73 years of data. A 23.4% drop in the price of gasoline since June 2019 contributed to the low inflation rate overall. In the same period, grocery prices rose 5.6%. Excluding energy and food costs, the index rose 1.2% from June 2019, the lowest rate since 2011. Wednesday U.S. industrial output fell at an annual rate of 42.6% in the second quarter, the biggest setback since businesses retooled after World War II, the Federal Reserve reported. Overall industrial production increased 5.4% in June but was 10.9% lower than the output in February. Broad gains in manufacturing were led by auto makers, which more than doubled their production in May, though they remained 25% below February output. The Fed said industrial production in 2020 could wind up just even with the level in 2019. Capacity utilization rates continued to improve from record lows in April. Even so, factories were operating at about two-thirds of their potential in June. Thursday The Commerce Department said retail sales continued to rebound in June, up 7.5% following a 18.2% surge in May. Total sales recovered from declines of 8.2% in March and 14.7% in April, signaling store reopenings and consumer stimulus payments. Sales rose in June among 10 of 13 retail categories. The only declines were among retailers that have been growing during the pandemic: home-and-garden centers, supermarkets and online retailers. Sales at bars and restaurants rose 20% in June but were down 26.3% from the year before. The four-week moving average for initial unemployment claims fell for the 12th week in a row, remaining historically high because of job losses related to the pandemic. The Labor Department said 32 million Americans received unemployment insurance benefits, including COVID-19 relief. That compared to 1.6 million beneficiaries the year before. Weekly claims reached 1.3 million, the lowest in 17 weeks. Friday The U.S. housing industry continued to bounce back in June with a 17.2% increase in the annual pace of housing starts, according to the Commerce Department. Building permits, a leading indicator of future construction, increased 2.1% from May. However, both measures remained below where they were before the pandemic, with housing starts down 4% from the year before and permits down 2.5%. The pace of new construction of single-family houses was 20.6% below the post-recession peak set in December. New housing helps address the nation’s relatively low inventory of residences for sale, which has resulting in housing prices accelerating faster than overall inflation. Recent surges in coronavirus cases have dampened consumer sentiment, according to the latest University of Michigan survey. With declining expectations and lower opinions of current conditions, sentiment is now about where it was in April after a record two-month plunge. An economist with the longstanding survey said Congress needed to act fast with additional stimulus for both consumers and states to avoid "another plunge in confidence and a longer recession." MARKET CLOSINGS FOR THE WEEK Nasdaq –10503, down 114 points or 1.1% Standard & Poor’s 500 – 3225, up 40 points or 1.2% Dow Jones Industrial – 26672, up 597 points or 2.3% 10-year U.S. Treasury Note – 0.63%, unchanged Send us a question for our next podcast. Not a Landaas & Company client yet? Click here to learn more.
Welcome to Episode 28 of The GR8 FIGHT NORTH Boxing Podcast!REVIEW:- July 20: WHYTE vs RIVAS, live on DAZNPREVIEW:- July 27: Hooker vs Ramirez and Arthur Biyarslanov on DAZNSCALIA PROSPECT WATCH:- Arthur "The Chechen Wolf" BiyarslanovNEWS/NOTES:- Gvozdyk vs Beterbiev OFFICIAL!- Butler and Makhmudov Fight announcements for EOTTMTWITTER QUESTIONS:- Are we ready to jump of the Teofimo Express?- Where does PacMan's W over Thurman rank in his career?- Lemieux vs Tureano Johnson at 168?- Rivas vs Kean - what happens?SPECIAL GUEST #1:Syd "The Jewel" Vanderpool, former NABO 168 lb champ, and 2-time IBF #1 Ranked World Title Contender (vs Bernard Hopkins and Jeff Lacy).SPECIAL GUEST #2:Pierre Bernier, professional Ring AnnouncerIf you enjoyed the show (or even if you didn't but you don't mind being a two-faced liar), please leave us a 5 Star review, it would be greatly appreciated.Like and Subscribe, and tell your friends!Follow us on Social Media and let us know what you think:Twitter:@GR8FightNorth@rian5ca@JasonToufexisFacebook:@gr8fightnorth
The RheumNow Week in Review July 20 2017 by Dr. Cush
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