Capping off last year, the United States experienced strong 2021 home sales after they notoriously plummeted throughout a sluggish 2020.
As consumer spending drops, investors focus on two major pieces of data this week: retail sales and inflation.
Closing out 2021, the United States achieved a record-setting Core PCE Price Index. In doing so, Core PCE hit its highest level since 1989.
As holiday consumer spending surges, the Federal Reserve plans adjustments for the recent colossal inflation, hitting a 30-year high.
In a short week, core PCE shows inflation quickly soaring in time for the holiday season while investors worry about price increases
The theme of this week revolved around surprising consumer spending growth. As a result, retail sales saw an overall surge.
This past week saw solid job gains amidst a packed week for mortgage markets, highlighted by key labor market data and a Fed meeting.
This past week saw luxury home sales rise as the market overcomes age-old housing challenges. Although the market saw little economic news, mortgages rates also rose. Ultimately, investors still focus on higher inflation.
This past week, analysts and investors closely watched the latest employment report. Unfortunately, it revealed that job gains went down, falling short of expectations.
This week saw steady inflation results while the manufacturing sector performed better. Overall, the economic data revealed no significant surprises.