4/25/2011 – theGrio and CNBC Market Update
VIDEO - In March, confidence declined to a 63.4 reading -- snapping two months of gains -- as higher gas and food prices weighed on consumers...
There were quite a few headlines to digest last week as investors were rattled when ratings agency S&P warned the US could list its triple credit rating if serious measures are not taken to reduce the deficit. Housing starts and existing homes sales both rose in March. Tech companies led the way for earnings as Apple, Intel, and IBM posted huge profits. Earnings season continues in the week ahead with reports from Coca-Cola, Exxon Mobil, and Microsoft. Investors also expect data on interest rates, housing and consumer confidence.
The Federal Reserve will meet to discuss the economy and interest rates. During their March meeting the Fed kept its key interest rate – which affects mortgage, credit card, and student loan rates – unchanged and said the job market is gradually improving, but the housing sector remains depressed.
Speaking of housing, we’ll get a read on home values with the February Case-Shiller Home Price Index Report. In January, home prices fell 2/10ths of 1 percent marking 7 straight months of decline and suggests the housing recession is far from over.
How do you feel about the economy? We’ll find out with the April Consumer Confidence Report. In March, confidence declined to a 63.4 reading – snapping two months of gains – as higher gas and food prices weighed on consumers. Consumer confidence is a gauge of consumer spending.
