Stocks rose yesterday after House Speaker Nancy Pelosi signaled Democrats and the White House were making progress in negotiations for a new fiscal stimulus deal.
U.S. single-family homebuilding surged in September, cementing the housing market’s status as the star of the economic recovery, thanks to record-low interest rates and a migration to the suburbs and low-density areas as Americans seek more room for home offices and schooling. Single-family homebuilding, the largest share of the housing market, jumped 8.5% to a rate of 1.108 million units last month.
Shares of Netflix are sharply lower after the company reported paid subscriber additions and guidance that sharply missed estimates, with subscriber growth decelerating more sharply than expected over the course of 2020.
Social Security and Supplemental Security Income benefits will increase 1.3 percent in 2021. The 1.3 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 64 million Social Security beneficiaries in January 2021. Retirees’ estimated average monthly benefit will increase by $20 per month, to $1,543 from $1,523 after the 1.3% increase.
With Northwest Quadrant Wealth Management, I’m Tyler Simones.