Unify Financial Advisors Weekly Market Update
The U.S. stock market experienced some volatility last week, with the S&P 500 declining 0.38%. Despite the dip, the index remains up 1.38% year-to-date.
The Consumer Price Index (CPI) rose 0.3% in December, and 2.7% over the last 12 months, with shelter, food, and energy prices contributing to the increase. The Producer Price Index (PPI) for November came in hot at 0.2% and is up 3.0% over the 12 months ended in November. PPI is considered a leading indicator of inflation, raising concerns about future inflationary pressures.
Existing home sales increased 5.1% in December, with the median sales price at $405,400. President Trump directed Fannie Mae and Freddie Mac to purchase $200bn of outstanding mortgage-backed securities. The directive is aimed at lowering mortgage rates, making homes more affordable, and boosting the housing market.
Weekly Outlook
Looking ahead, the final estimate of third-quarter GDP growth is expected this week, following a previous estimate of 4.3% annualized expansion.
Please read the full Market Week report for details on last week’s market and economic trends.
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Regards,
David Bennett