ECONOMIC CALENDAR:Monday: New Home Sales, Dallas Fed Mfg. Survey Tuesday: Durable Goods Orders, S&P Case-Shiller HPI, Consumer Confidence Wednesday: International Trade in Goods, Pending Home Sales Index, EIA Petroleum Status Report, FOMC Meeting Announcement Thursday: GDP, Jobless Claims Friday: Personal Income and Outlays, Employment Cost Index, Chicago PMI, Consumer Sentiment
- Housing starts drop. Groundbreaking on new houses dropped 8.8% in March, and permits for new home construction fell, indicating that homebuilders are expecting the sector to cool off.
- Existing home sales bounce 5.1% higher. Resales of existing homes rose more than expected in March, suggesting that the housing market had legs last quarter. Though monthly sales are volatile, growth was solid across all four U.S. regions.
- Jobless claims drop to multi-decade low. The number of weekly applications for new unemployment benefits dropped to the lowest level since 1973 in the latest sign that the labor market is steaming ahead despite slow economic growth.
- Oil prices post third week of gains. Benchmark crude oil prices rose again last week on expectations that the global oil supply glut is easing and demand will rise in the peak driving season.
Quote Of The Week
“The act of giving is the soul of living.” – Loreen Arbus
Recipe Of The WeekMacaroni Salad Serve this delicious salad as a quick lunch side. Serves 4 Ingredients:
- 1/2 pound macaroni or other short pasta
- 2 large eggs
- 3/4 cup mayonnaise
- 2 tablespoons fresh lemon juice
- Kosher salt and black pepper
- 2 scallions, green and white parts thinly sliced
- 4 stalks celery, bottom removed and rinsed and chopped
- 1/4 cup fresh flat-leaf parsley, rinsed well and chopped