brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Institute of Supply Management (ISM) Manufacturing Index beat consensus expectations in November and rose to 48.4, its highest reading since June. Despite a higher reading from October, the manufacturing index remains in contraction territory (a reading above 50 indicates expansion, and below […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Gross Domestic Product’s (GDP) second estimate was unchanged for the third quarter at a reading of 8% on an annualized basis. Consumer spending was revised slightly downward, but was offset by stronger non-residential investment, federal government spending, and inventories. Corporate profits, which […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 Housing starts declined 1% last month to a 1.311 million annual rate, missing consensus expectations of 1.334 million for October. A 9% fall in single-family construction drove total starts lower, as multi-family starts rose in the month. Building in the South (the region […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The NFIB Small Business Confidence index rose by 2 points to 93.7, matching its highest level since early 2022. Nine out of ten components improved with a significant 7-point rise in the outlook for business conditions, nearing a net-positive reading for the first […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Institute of Supply Management (ISM) released its October services purchasing managers' index (PMI). The headline composite index came in at 56.0, better than the forecast of 53.8. The latest reading moves the index back into expansion territory for the 50th time in […]
brought to you by Phil Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 The Conference Board Consumer Confidence Index reached a nine-month high of 7, easily beating consensus expectations of 99.5. This marked the largest monthly gain since March 2021 as higher stock and home prices, along with a more accommodative Federal Reserve (Fed) helped increase […]
For Immediate Release Leesburg, VA – Angela Bender, managing partner at AMJ Financial Wealth Management, completed her semiannual training with America’s IRA Experts at Ed Slott and Company, LLC by participating in a workshop that took place October 24-25, 2024. The invite-only workshop, attended by members of Ed Slott’s Master Elite IRA Advisor GroupSM, offered […]
brought to you by Philip Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 New home sales increased 4.1% month-over-month in September to an annualized rate of 738,000, which beat consensus This marked the largest monthly gain since last year. Sales have risen 6.3% compared to a year ago. Declining mortgage rates leading up to the Fed’s […]
brought to you by Phil Blancato, Osaic's Chief Market Strategist ECONOMIC REVIEW1 Retail sales rose 4% in September, beating consensus expectations of a 0.3% increase for the month. Retail sales are up 7% in the last year. “Core” sales, excluding the often-volatile categories of autos, building materials, and gas stations, rose 8% in September and […]