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Weekly Economic Wrap: Oct 30, 2020

This is a summary of economic reports released during the week ending Oct 20, 2020. These are summarized from the Econoday web site and other various reports, such as Ned Davis Research. The stock market overall was down. The DJIA began the week at 28,185 and closed at 26,502 on Friday. This is a daily chart of the SP500. Click to enlarge.   New Home Sales (Oct 26)Actual number: 969,000 (annual basis)
New home sales have been soaring, easily beating Econoday's consensus the last five reports. After August's 1.011 million annual rate, Econoday's consensus for September is 1.016 million. New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances.

Durable Goods Orders (Oct 27)
Consensus: .4% increase. Actual: 1.9% increase
Recovery in durable goods orders is expected to hold steady in September, at …

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