Economic Radar: Home Sales, Unemployment, SSS

Recap of the past week’s U.S. economic releases:

  • New home sales sunk 13.4% in July to a seasonally adjusted annual rate of only 394k. That rate is 6.8% higher than the same month a year ago.
  • The Chicago Fed National Activity Index was a reading of -0.15 in July. That is up slightly from June but is still below its historical trend.
  • The FHFA house price index was up 7.7% year over year in June.
  • The Kansas City Fed manufacturing survey was a reading of +8 in August, indicating expansion at a faster rate than in July.
  • The unemployment rate was up in 9 states year over year in July.
  • Initial jobless claims for the week increased slightly to 336k but remain low. The insured unemployment rate was unchanged from the week prior at 2.3%.
  • Both weekly store sales indexes were unchanged from their week-ago readings of up 2.4% Y/Y (4 week MA) and up 3.4% Y/Y (4 week MA).

Economic Radar

The U.S. economic schedule for the week ahead:

Voss Capital is betting on a housing market boom

Housing MarketThe Voss Value Fund was up 4.09% net for the second quarter, while the Voss Value Offshore Fund was up 3.93%. The Russell 2000 returned 25.42%, the Russell 2000 Value returned 18.24%, and the S&P 500 gained 20.54%. In July, the funds did much better with a return of 15.25% for the Voss Value Fund Read More

Monday, August 26, 2013

  • Durable Goods Orders – Last up 10.4% Y/Y.
  • Dallas Fed Manufacturing Survey – Last +4.4.

Tuesday, August 27, 2013

  • Consumer Confidence – Last 80.3.
  • S&P Case-Shiller House Price Index – Last up 12.4% Y/Y.
  • Richmond Fed Manufacturing Survey – Last -11.
  • Weekly Store Sales

Wednesday, August 28, 2013

Thursday, August 29, 2013

  • Gross Domestic Product – Last SAAR +1.68%.
  • Weekly Initial Jobless Claims

Friday, August 30, 2013