Email or Call John if you would like a rate quote.
Suggestions that can change during the day: Mortgage Bond prices are trying to stabilize near critical support levels. Carefully floating is recommended.
After close Commentary: Coming Soon
Late morning Commentary: Corporate earnings season ramps up this week with 37% of the S&P 500 companies set to report. Thus far, three-quarters of the 88 S&P companies that have reported have beat profit expectations. In addition, 12 of the 30 companies in the Dow Jones Industrial are also set to report this week. Stronger earnings have lifted the major Stock indexes to record high levels with the Dow up 4.2% in October.
The National Retail Federation (NRF) recently released its sales figures for the upcoming holiday shopping season and the numbers are slightly below the 2016 season. The NRF reports that holiday sales will increase 3.6% to 4% as shoppers get an extra day of shopping along with increasing consumer confidence. The figures are just below the 2016 holiday season sales growth of 4%. The NRF forecasts sales for November and December between $675.75 billion and $682 billion. The holiday shopping season accounts for 20 to 40 percent of annual sales for many retailers.
Economic growth figures will be released this week for the third quarter of 2017. The Atlanta Federal Reserve is forecasting a solid 2.7% rise in Gross Domestic Product (GDP) from its GDP Now models for the third quarter. Hurricanes Harvey and Irma could have slowed growth a bit in September, which is why GDP is expected to come in a bit lower. Consumer spending will be a key metric with the GDP report. For the economy to continue to grow, consumers will have to dig into their pockets and spend, especially with the holiday shopping season right around the corner.
Johnmarbury.com has attempted to verify the information contained on this post. However any aspect of such may change without notice. Johnmarbury.com does not provide investment advice and does not represent that any of the information or related analysis is accurate or complete at any time. Forgive my spelling and grammatical mistakes due to writing skills that are lacking and the need to communicate quickly.