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Markets Can’t Hold
The Market Bull 2018

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The Market Bull – December 18, 2018

The major averages unable to hold their large early gains closed slightly higher despite generally good data including a rare positive real estate related report.

Housing starts increased 3.2% to 1.256 million units annualized in November, beating expectations and snapping a pair of losses. Permits advanced 5% to 1.328 million units annualized.

One of the better reports for this series in some time, starts remain 3% lower than a year ago. At the regional level activity was led by the South and the Northeast. The West saw starts fall 14.2% for the month and 18.4% from a year ago.

The October TIC Report or Treasury International Capital Report showed foreigners to be willing buyers of our securities with a 31.3 billion Dollar advance.

Equities or stocks sold off hard again and marked a 6th consecutive decline. Agency bonds were very popular and to a lesser extent Corporate and Treasury issues.

The Bay Area saw a 17% decline in Home Sales from a year ago in November, while inventory for sale increased 27% on the same basis. Looking at total sales and they are running some 5% below last year’s pace. This marks a second consecutive notable decrease in sales and increase in inventory for sale for the Bay Area.

Standard and Poors 500 Index closed at: 2,546.16 up .22
NASDAQ finished at: 6,783.91 up 30.18
Gold ended trading at: $1,253.30 up $1.50

This is Caleb Lawrence Registered Investment Adviser I can be reached directly 831-334-5318 or stop by my office 5321 Scotts Valley Drive in the Scotts Valley Plaza, Suite 202, Scotts Valley, Ca, 95066.

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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