|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||41.99 - 42.49|
|52 Week Range||35.80 - 47.20|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
The FOMC staff review indicated that the US investor sentiment has improved in the inter-meeting period. This brief was prepared before the market correction that began in the last week of January, so it doesn’t reflect that drawdown. The report indicated that the tax legislation appeared to have improved investor sentiment, which translated into higher US equity prices and Treasury (GOVT) yields.
An increasing number of building permits is a sign of future construction (ITB) activity, which could lead to higher employment and economic output. As per the latest report in January, housing units (XHB) authorized by building permits were at a seasonally adjusted rate of 1.4 million, an increase of 7.4% from the revised December reading of 1.3 million units. In a reversal of the recent trend, multi-unit (apartments) building permits have increased more than single-family permits.
Speculation about housing market normalization after the hurricane-related surge seems unfounded after the January housing starts beat all expectations. Housing starts increased 9.7% in January. The US Census Bureau and the Department of Housing and Urban Development have reported housing starts for January at 1.33 million, a sharp increase from the revised December reading of 1.21 million.
The National Association of Home Builders (or NAHB) consists of 700 state and local associations of home builders (REM), real estate sales and marketing professionals, and remodelers. The Housing Market Index (or HMI) is based on a monthly survey of its members. The survey mostly relates to builders in the single-family housing market (ITB) and asks its participants to rate the current conditions and expected conditions in the next six months as “good,” “fair,” or “poor.” The report also rates traffic from prospective buyers as “high to very high,” “average,” or “low to very low” for new homes.
January existing-home sales unexpectedly fell 3.2%, the National Association of Realtors said. The sales reflect signings before 2018's interest rate hikes.
With Chinese and Korean markets closed for the Lunar New Year, Japan was the center of attention in Asia and the nomination of Bank of Japan governor Haruhiko Kuroda for another term helped support the ...
The National Association of Home Builders/Wells Fargo housing market index stayed at 72 in February. That’s a very strong reading, as any reading over 50 indicates “good” performance.
The “Job Openings and Labor Turnover Survey” (or JOLTS) data for December was reported on February 6 and contains information about job openings and total separations. The total number of separations include layoffs, retirements, and voluntary quits. As per the latest JOLTS report, total separations for December were 5.2 million, which is 3.6% of the total workforce.
In the FOMC’s January statement, the committee said that information received since the last meeting indicated that the US economic activity has been increasing at a solid pace. Also, the labor market has continued to strengthen. The economic outlook remained positive—taking the gains in employment, household spending, and business (VOO) investment into account.
What Boosted the Leading Economic Index in 2017? The Conference Board uses the number of building permits issued as one of the constituents of its LEI (Leading Economic Index) model. The number of building permits is a forward indicator of economic activity in the housing and construction (PKB) industry.
Homebuilder-related ETFs extended their losing streak, with home constructions stocks suffering through their worst seven-day run in two years. The iShares U.S. Home Construction ETF (NYSEArca: ITB), the ...
What Boosted the Leading Economic Index in 2017? The Conference Board uses the average weekly unemployment claims as a key constituent of its LEI (Leading Economic Index). Tracking changes in the employment market gives investors an idea about the economic performance of an economy.
What Boosted the Leading Economic Index in 2017? The Conference Board LEI (Leading Economic Index) is one of the most-followed forward economic indicators in the financial world. The LEI is a monthly economic series that tracks the changes in economic performance in the US and has historically been successful in predicting changes in business cycles.
Did US Consumers Increase Spending in 2017? The Bureau of Economic Analysis (or BEA), which is a part of the US Department of Commerce, releases a monthly report on personal income, disposable personal income, and the personal consumption expenditures of US consumers. 2017 has been a strong year for consumers helped by a tightening labor market, which led to an increase in salaries in the private sector.
The US Bureau of Economic Analysis’s recently released advance estimate for 4Q17’s GDP indicates that the US economy grew 2.6% during the quarter, considerably lower than 3Q17’s growth of 3.2%. While markets (SPY) grumbled about the decline in economic growth, the decline should not be a reason to worry. Although GDP growth appears to be below 3%, recent macroeconomic data from the US suggests improvement in the economy.