In my last blog post on whether markets might rally by year-end, I detailed a few technical indicators that suggested taking a cautious approach, as well as a reason for potential optimism. Today, I’d like to provide updates on two of those indicators, introduce new data, and wrap up with some thoughts on where we go from here.
News
Economic Release Snapshot: GDP Growth Accelerates in Third Quarter
Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.
What Mattered This Week? Markets Kept Dropping
This week was about the markets, which kept dropping even as the economic news continued to be good. Growth last quarter was well above expectations, at almost 5 percent, and personal spending increased for the sixth month in a row. Despite that good news, markets pulled back again, with the S&P 500 looking like it will slide into a correction, down more than 10 percent from the most recent peak in August.
Curbed Appeal for Would-Be Homebuyers
Being a “forever renter” is an idea many millennials (myself included) have been grappling with in recent years. Buying a home, once considered a milestone on the adulting journey, feels more out of reach than ever for some of us. I know I’m not alone in this feeling, as there are plenty of would-be homebuyers to share in my woes. So, let’s take a look at some of the barriers to homeownership now and whether there is reason to believe circumstances may change in the future or if some of us will be tenants for eternity.
Economic Release Snapshot: Housing Sales Slow in September
Each week, we break down the latest U.S. economic reports, including what the results mean for the overall health of the economy. Here, you will find how economists’ forecasts compare with actual results, key takeaways to consider, as well as a list of what’s on tap for the week ahead.
What Mattered This Week? Interest Rates Jump
When I look at what mattered each week, there are often multiple candidates. What usually gets the nod for more discussion is what changed that week. That is certainly the case this week. Lots of things mattered, including the war in Israel, and I don’t want to minimize that ongoing tragedy. But what changed this week—and what mattered most in economic terms—was the sudden jump in interest rates.