theGrio and CNBC Market Update: 11/1/13
CNBC - The jobs report was top of mind for investors last week...
The jobs report was top of mind for investors last week.
In September the unemployment rate dipped to 7.2 percent, its lowest level in nearly five years, as 148,000 jobs were created. Business services and transportation added the most jobs. African-American unemployment dipped slightly to 12.9 percent, while black teen unemployment declined to 35.1 percent. However, it remains the highest of any group. In the week ahead, we expect earnings reports from visa, linked in and yelp, as well as data on interest rates, home prices, and inflation.
The Federal Reserve will meet to discuss the economy and interest rates. During the September meeting the Fed left its Key Interest Rate, which affects mortgage, credit card and student loans, unchanged and vowed to continue its bond buying program to help stimulate economy.
We’ll get a read on housing with the August Case-Shiller Home Price Index Report, which tracks price changes in twenty metro areas such as Atlanta, Chicago and Dallas.
In July home prices rose 12.4 percent, compared to a year ago with Las Vegas and San Francisco posting the biggest gains.
We’ll get a read on inflation with the September Consumer Price Index Report, which tracks price changes for food, clothing and energy. In August Consumer Prices rose slightly — held back by lower gas prices
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