US Stocks rose to yet another all-time high yesterday as investors looked past the news of President Trump’s impeachment as well as mixed U.S. economic data.
For the first time ever, the U.S. economy started and ended an entire decade without entering a recession. It’s been the longest expansion in the country’s history. But overall economic growth during this decade has been slower compared to previous booms. There’s a saying among economists that “expansions don’t die of old age.” As of December, the U.S. economy has expanded for a record 126 straight months, the longest time period in the country’s history according to the National Bureau of Economic Research.
Sales of previously owned U.S. homes declined to a five-month low in November, indicating lean inventories are holding back a residential real estate market that’s been supported by low mortgage rates and job growth. Contract closings fell 1.7% from the prior month to a 5.35 million annual rate. The median sales price rose 5.4% from a year earlier to $271,300.
Nike reported quarterly earnings and revenue that topped expectations, but a miss on gross margin and sales in North America sent shares lower.
With Northwest Quadrant Wealth Management, I'm Tyler Simones.