This morning's release of the January New Home Sales from the Census Bureau came in at 555K, up 3.7% month-over-month from a revised 535K in December. Seasonally adjusted estimates for October and November were also revised. The Investing.com forecast was for 570K.
The Chicago Fed's National Activity Index, which we reported on yesterday morning, is based on 85 economic indicators drawn from four broad categories of data:
On Friday, the S&P opened lower than the previous three days and oscillated around a narrow range until late in the day with a few jumps just before close. The index reached its intraday high at close and ended the day with a gain of 0.15%. Week over week, the index saw a gain of 0.70% ending Friday with another record close.
Today's release of the publicly available data from ECRI puts its Weekly Leading Index (WLI) at 144.6, up just 0.1 from the previous week. It is currently just below its all-time high. Year-over-year the four-week moving average of the indicator is now at 12.32%, up from 12.17% the previous week, and at an interim high. The WLI Growth indicator is now at 10.5, down slightly from the previous week.
The University of Michigan Final Consumer Sentiment for February came in at 96.3, down from the January Final reading of 98.5, but inched up from the February preliminary of 95.7. Investing.com had forecast 96.0.
"Index shows economic growth decreased in January." This is the headline for today's release of the Chicago Fed's National Activity Index, and here is an excerpt from opening summary: "Three of the four broad categories of indicators that make up the index decreased from December, and two of the four categories made negative contributions to the index in January."
The latest index came in at 14.0, up from last month's 9.0, which indicates improving activity. The future outlook increased to 29.0 from 27.0 last month. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
Today's seasonally adjusted 244K new claims, up 6K from last week's revised number, was worse than the Investing.com forecast of 241K.
We present our seasonal heating oil update which we will be following this closely throughout the season. The latest price of home heating oil nationwide is $2.65, up less than a penny from last week and up 34 cents per gallon since the start of the season.
The Federal Housing Finance Agency (FHFA) has released the U.S. House Price Index (HPI) for the most recent month. U.S. house prices rose in December, up 0.4 percent on a seasonally adjusted basis from the previous month. Year-over-year the index is up 6.2% (nonseasonally adjusted). The index was up 1.5% in Q4 2016.