Inside This Week’s Market News for Week of February 28, 2012

This week’s market news begins at the gas pump which has not been very friendly as of late. However there was a glimmer of good news on Friday where Consumer Sentiment rose to 75.3, which is the best it’s been since about one year ago.  As oil prices rise, consumers are becoming more cautious with their discretionary dollars and employers have less money to expand and hire. This uncertainty and fragile economy has kept home loan mortgage rates sputtering. If you are in the market to purchase a home what a great time as mortgage rates still remain near all-time lows.

New Jobless Claims --- courtesy of BloombergThis weeks economic front will provide lots of economic reports to watch.

On Monday, Pending Home Sales will be released and should not have a great impact on mortgage rates.

Durable Orders will be delivered on Tuesday. This report gives us a glimpse at consumer spending for products that are expected to last at least three years. Also on Tuesday will be Consumer Confidence. This will be an important report as the American consumer is a very important player in the U.S. economy.

The Chicago PMI and the ISM Index will be released on Wednesday and Thursday, respectively.  On Wednesday is also the all-important Gross Domestic Product report which will provide a detailed view on the overall picture of growth in the U.S.

Thursday we will get the Initial Jobless Claims. It will be interesting to see if this number builds on last weeks near four-year lows signaling that the job market is healing.

Finally, the Core Personal Consumption Expenditure (PCE) report will be released on Thursday. This is the Fed’s favorite gauge on the impact of inflation.

The material provided is for informational and educational purposes only and should not be construed as legal, investment and/or real estate advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.

Speak Your Mind