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Pending Home Sales

Existing Home Sales Moving Back To Pre-Tax Credit Levels?

The chart below illustrates how existing home sales appear to be pulling back to levels that would have been expected without a surge in demand stemming from the first time home buyer tax credit, despite the programs extension/expansion.  This could be an indication that housing demand was mostly sopped up by the original tax credit, […]

US Economics Week Ahead: 2010 Starts with a Bang

It is a good thing investors will have the entire weekend to recover from their New Year’s celebrations, because 2010 is starting with a bang, at least in terms of economic data.  Undoubtedly, the week’s most critical release will be Friday’s employment report, where excitement is building that payrolls could show their first monthly advance […]

US Economics Week Ahead: Jobs to the Rescue?

This week investors face a barrage of data in addition to Chairman Bernanke’s Senate confirmation hearing.  On the economic front, Friday’s employment report should steal the show followed closely Tuesday’s manufacturing ISM release. Both the manufacturing and non-manufacturing ISM reports have indicated expansion over the past three months, and should again in November, albeit at […]

Morning Macro Recap: ISM & Pending Home Sales

The ISM manufacturing index rose in October to 55.7 from 52.6 in September, which was above expectations.  This was the highest reading for the index since April.  The prices paid index climbed to 65.0 in October from 63.5 a month prior. The employment index jumped to 53.1 during the month from 46.2 in September. The […]

US Economics Week Ahead: Jobs & the Fed

With the first week of November comes a wave of important economic data—plus a few key earnings announcements—important macro releases include October’s employment report, an FOMC announcement, and several other indicators that will help gauge the health of the consumer and overall economy.  Also important to note is that the ECB, Bank of England, and […]

US Economics Week Ahead: Markets Try to Find Traction in an Array of Data

There’s no doubt this week’s most important release will be Friday’s employment report, which is expected to show a decline in payrolls of -170K with an unemployment rate of 9.8%.  This week could prove critical as markets try to regain some traction after several negative surprises last week, including lower than anticipated existing home sales […]

ISM Up, Construction Spending Neutral, & Pending Home Sales Rise

The ISM rose for the 8th consecutive month finishing August at 52.9, this was the index’s first reading above the break even point of 50 since January 2008. Improvements in manufacturing will likely have positive implications for 3Q09 Real GDP growth. The new orders index increased to 64.9 from 55.3 a month prior. This index […]

US Week Ahead: The Start of September…

This week brings the onset of a notoriously bad month for returns, and given the week’s vast array of critical data, the ball is sure to start rolling in one direction or another.  First let me apologize if this week’s calendar seems somewhat abridged, as I am on vacation, and am writing it amid the […]

Pending Home Sales Surprises to the Upside

An upward surprise in this morning’s pending home sales data  helped to restore some sentiment to the market after a disappointing personal income release.  Pending home sales were up 3.6% in June, compared to a consensus forecast of 0.7%.  This was the 5th consecutive month of gains.  Pending home sales were up in all four […]