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October 18th, 2019
Insight on Plan Design & Investment Strategy Every Weekday
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| Economic Events |
Privately‐owned housing units authorized by building permits in September were at a seasonally adjusted annual rate of 1,387,000, the Census Bureau reported. This is 2.7% below the revised August rate of 1,425,000, but is 7.7% above the September 2018 rate of 1,288,000. Single‐family authorizations in September were at a rate of 882,000; this is 0.8% above the revised August figure of 875,000. Authorizations of units in buildings with five units or more were at a rate of 470,000 in September.In the week ending October 12, the advance figure for seasonally adjusted initial claims for unemployment insurance was 214,000, an increase of 4,000 from the previous week’s unrevised level of 210,000, the Labor Department announced. The four-week moving average was 214,750, an increase of 1,000 from the previous week’s unrevised average of 213,750.
The average interest rate for a 30-year fixed-rate mortgage is 3.69%, up from 3.57% one week ago, according to Freddie Mac. The average interest rate for a 15-year fixed-rate mortgage is 3.15%, up from 3.05%.
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| Market Mirror |
Thursday, the Dow closed 23.90 points (0.09%) higher at 27,025.88, the NASDAQ gained 32.67 points (0.40%) to finish at 8,156.85, and the S&P 500 was up 8.26 points (0.28%) at 2,997.95. The Russell 2000 increased 16.79 points (1.10%) to 1,541.84, and the Wilshire 5000 climbed 110.85 points (0.36%) to 30,561.79.
The price of the 10-year Treasury note was down 1/32, increasing its yield to 1.756%. The price of the 30-year Treasury bond decreased 3/32, bringing its yield up to 2.239%.
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ON THIS DATE: In 1767, the Mason-Dixon line was agreed upon. It was the boundary between Maryland and Pennsylvania. In 1842, Samuel Finley Breese Morse laid his first telegraph cable. In 1867, the U.S. took formal possession of Alaska from Russia. The land was purchased for a total of $7 million dollars (2 cents per acre). In 1892, the first long-distance telephone line between Chicago and New York City was opened. In 1898, only one year after Spain granted Puerto Rico self-rule, American troops raised the U.S. flag over the Caribbean nation, formalizing U.S. authority over the island’s one million inhabitants. In 1931, inventor Thomas Alva Edison died in West Orange, New Jersey, at the age of 84. In 1967, the American League granted permission for the A’s to move to Oakland. Also, new franchises were awarded to Kansas City and Seattle. In 1977, Reggie Jackson tied Babe Ruth’s record for hitting three homeruns in a single World Series game. In 1997, a monument honoring U.S. servicewomen, past and present, was dedicated at Arlington National Cemetery.
And now it’s time for FRIDAY FILES!
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