In a really surprising week, analysts saw retail sales jump far above the consensus while Consumer Price Index failed to reach it.
While significant economic news came out this week, retail sales dropped. In spite of this, the travel and entertainment industries saw a major a boom.
This week, the Fed surprised investors with a new projection, driving rising mortgage rates. Coming into the week, investors laser-focused on Wednesday’s Fed meeting.
Looking at the recent data, new home sales skyrocket though mortgage markets barely changed. Mixed economic data caused little reaction.