11/25/11 – the Grio and CNBC Market Update
This week investors will gain insight on consumer spending and trends with earnings reports from Tiffany, Big Lots and Barnes and Noble. We also expect quite a bit of economic data on jobs, home prices and consumer confidence.
Where are the jobs? We’ll find out with the November jobs report. In October the unemployment rate fell slightly to 9 percent as 80-thousand jobs were created. Business services and hospitality saw the biggest gains. African American unemployment declined to 15 point 1 percent, while black teen unemployment fell sharply to 37 point 8 percent, but remains the highest of any group.
We’ll check on housing with the September case-chiller home price index report — which tracks price changes in twenty metro areas. In August home prices were unchanged from the previous month. The Midwest region was the bright spot with Chicago, Detroit and Minneapolis posting some of the biggest gains.
How do you feel about the economy? We’ll find out with the November consumer confidence report. In October confidence fell to a 39 point 8 reading—a level not seen since the recession — as consumers continue to worry about their finances and the labor market. Consumer confidence is a gauge of consumer spending.
And that’s your CNBC market look ahead for theGrio dot com. I’m Shartia Brantley.