theGrio and CNBC Market Update: 11/16/12
VIDEO - Small business optimism improved slightly, consumer prices showed a slight increase due to higher rent prices and new claims to jobless benefits spiked by 78,000 due to Hurricane Sandy. But inflation overall is staying at bay.
Besides focusing on the looming fiscal cliff, investors had plenty of economic data to sift through last week. Small business optimism improved slightly, consumer prices showed a slight increase due to higher rent prices and new claims to jobless benefits spiked by 78,000 due to Hurricane Sandy. But inflation overall is staying at bay.
In the weeks ahead, two more reports on housing are supposed to be reported; September’s new construction and October’s existing home sales reports.
The number of new constructions jumped by 15 percent in September, this is the fastest pace in over four years. As a gauge for future building activity, building permits have soared 11.6 percent.
October’s existing home sale report which looks at previously owned homes should also come out. September’s re-sales showed mixed results. Sales declined by 1.7 percent, but median sales prices rose 11.3 percent from a year ago. The reading of 82.6 in five years is a gauge of consumer spending.
That is your CNBC Market look ahead for theGrio.com
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