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Major Averages Gain
The Market Bull 2018

00:00 / 2:14

The major averages enter the final hour with solid gains on generally positive but not overly significant data.

Employment costs advanced .6% in the 1st quarter as expected led by higher benefit costs and, state and local government wages. On a year ago basis employment costs are up 2.8%, wages 2.7% and benefits 2.9%.

The Personal Consumption Expenditures or PCE Deflator gained .1% in June led by a big jump in gasoline and energy prices. Goods prices fell on a notable drop in Durable Goods prices. On a year ago basis the PCE Deflator is up 2.2%, a 4th consecutive month above the Fed’s desired 2% target, that said price pressure remain fairly modest with most of the gains coming from the energy sector and particularly gasoline.

Personal Income increased .4% in June on notable gains in asset, rental and small business or proprietors’ income. On a year ago basis personal income has advanced a decent 3.1% after inflation. The savings rate was unchanged at 6.8%.

Case/Schiller reports that it’s National Home Price Index gained 1.1% in May and 6.4% from a year ago. ON a regional basis Las Vegas was #1 with a .6% gain, followed by San Francisco up .5%. Laggards include New York down .3% and a second monthly decline. Washington and Los Angeles were both unchanged.

This is Caleb Lawrence Registered Investment Adviser Scotts Valley Drive and Willis Road in the Scotts Valley Plaza, Suite 202 or call me toll free at 888-RICH PIG / 888-742-4744.

You can catch me on the radio at noon each business day as well on California’s central coast. KPIG 107.5 FM in the Monterey Bay or KPYG 94.9 FM in San Luis Obispo.

Rebroadcasts, additional writings, and other entries are also available on my Blog at www.clinvestments.com

Advisory services offered through Caleb Lawrence Registered Investment Adviser Inc.


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