Economic Update For Week Ending December 26, 2020.

Dec 27, 2020 — Tina Lucarelli, Rodeo Realty

Stocks almost unchanged for the week - Stock markets had a lackluster week as President Trump would not sign off on a stimulus package that everyone felt would be a done deal after it was approved by the house and senate on Monday. The package, most of which is expected to be approved included the following:

Economic Update For Week Ending December 19, 2020.

Dec 19, 2020 — Tina Lucarelli, Rodeo Realty

61 articles Stock markets finished the week higher – Investors teetered between optimism and pessimism this week. On the positive, COVID-19 vaccine injections began in the U.S. A second vaccine from Moderna gained unanimous approval from the FDA advisory panel and is awaiting full FDA approval which is expected imminently. That will add millions of vaccine doses which is expected to speed up the process for more of the population to get vaccinated sooner. A $900 billion stimulus package has moved closer to approval. It’s expected to be approved over the weekend. At the same time, COVID cases are spiking out of control. Many hospitals are out of beds, or nearly out of beds. States and cities are taking further action to keep people home causing businesses across the country to close. New unemployment claims rose by almost 900 thousand last week. With vaccinations a reality, and a new stimulus package in the works the stock markets had a positive week.  The Dow Jones Industrial Average closed the week at 30,179.05, up 0.4% from 30,046.26 last week. It’s up 5.8% year-to-date.  The S&P 500 closed the week at 3,709.41, up 1.3% from 3,663.46 last week. It is up 14.7% year-to-date.  The NASDAQ closed the week at 12,755.64, up 3% from 12,377.87 last week. It’s up 32.0% year-to-date.  U.S. Treasury bond yields - The 10-year treasury bond closed the week yielding 0.95%, up from 0.90% last week. The 30-year treasury bond yield ended the week at 1.70%, up from 1.63% last week. We watch bond yields because mortgage rates often follow treasury bond yields. 

Economic Update For Week Ending December 12, 2020.

Dec 12, 2020 — Tina Lucarelli, Rodeo Realty

Stock markets closed lower this week after three weeks of gains - Stocks dropped slightly as new unemployment claims surged for a second week. This was a result of layoffs due to increased shutdowns of non-essential businesses throughout the country. Markets held up well considering the exponential spread of new COVID-19 cases because the FDA moved toward approval of the Pfizer COVID-19 vaccine. It’s the first of several vaccines to be approved. Experts report that vaccinations will start as early as Monday. A long-awaited COVID-19 relief bill failed to materialize again this week. It was reported that a deal was going to be approved on Monday, but fell apart later in the week as the sides could not agree on key issues. An emergency stop-gap one-week spending bill to fund the government averted a shutdown for a week. Hopefully, a COVID-19 relief bill will be attached to a more permanent government funding bill. 

Economic Update For Week Ending December 5, 2020.

Dec 06, 2020 — Tina Lucarelli, Rodeo Realty

The U.S. economy added 245,000 new jobs in November - The Department of Labor Statistics reported that employers added 245,000 new jobs in November. That was a disappointing result as analysts expected the economy to add 445,000 new jobs. The unemployment rate dropped to 6.7% in November, down from 6.9% in October. 

Economic Update For Week Ending December 5, 2020.

Dec 06, 2020 — Tina Lucarelli, Rodeo Realty

The U.S. economy added 245,000 new jobs in November - The Department of Labor Statistics reported that employers added 245,000 new jobs in November. That was a disappointing result as analysts expected the economy to add 445,000 new jobs. The unemployment rate dropped to 6.7% in November, down from 6.9% in October. 

Economic Update November Month End.

Dec 02, 2020 — Tina Lucarelli, Rodeo Realty

Stock markets soared in November - Investor's drove stock market indexes to record highs in November. The rally was fueled by positive news from several vaccine trials revealing that some of the vaccines were 90-95% effective. The FDA indicated that an emergency approval of at least two vaccines would allow people to start to be vaccinated in the coming weeks. This drove stocks even higher. 

Economic Update For Week Ending November 28, 2020

Nov 28, 2020 — Tina Lucarelli, Rodeo Realty

Stock markets rose to historic highs again this week - In a holiday-shortened week stocks continued to climb. More news on the vaccine front indicates that approval to begin widespread vaccinations is just weeks away. The Dow Jones Industrial Average is up almost 13% for the month. Should it not see a decline on Monday it will mark the Dow’s best month in over 30 years. On Tuesday it climbed to over 30,000 for the first time. 

Economic Update for the Week Ending November 21, 2020

Nov 21, 2020 — Tina Lucarelli, Rodeo Realty

Stock markets unchanged this week – Investors bought stocks based on positive news showing that several COVID-19 vaccines are close to being approved for distribution. They also sold stocks based on fear that surging COVID-19 cases were causing further restrictions that will curtail business growth throughout the country. Unemployment claims unexpectedly rose this week which was further evidence that the re-opening of the economy has begun to show some signs of reversing. 

Economic Update for the Week Ending November 14, 2020

Nov 14, 2020 — Tina Lucarelli, Rodeo Realty

In spite of Covid-19, the stock market is sustaining this years all time record high and mortgage rates rise slightly. Is time running out to take advantage of the low mortgage rates? Stock markets - Stocks advanced further this week after the announcement that Pfizer’s COVID-19 vaccine had proven to be 90% effective. By week’s end other vaccine manufactures also reported that they were experiencing similar results. The Trump administration announced that the vaccine will be available to the most vulnerable by the end of the year. Despite COVID-19 cases spiking in across the country, and Europe, the threat of stay at homes orders in some states, anticipation of a vaccine kept investors optimistic. 

Economic update for the week ending October 31, 2020

Oct 31, 2020 — Tina Lucarelli, Rodeo Realty

Stock markets –Stocks dropped drastically this week as COVOID-19 cases have spiked in almost every state. The largest drops occurred Thursday as a reaction to France, and Germany initiated COVID-19 lockdowns. Investors do not feel that the U.S. will go back to shutting down the economy but do fear that the re-opening will stall, and it will take longer than expected to return to normal. They also believe that Europe’s shutdown will severely affect their economy which was recovering from shutdowns earlier in the year. Congress’ failure to pass another round of stimulus also was a drag on stocks this month, but investors still feel certain that a large stimulus package will be passed after the election. This did not have the effect that the increase in COVID-19 cases had. It should be noted that third quarter corporate profits have been extremely strong, and the third quarter preliminary GDP increased 33.1% on an annualized bases from the second quarter when much of the country was under shut down. Output is still below one year ago, but we have been on the right track.  
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