Homebuying in the U.S. slowed down in the final month of 2021.  Pending home sales, a leading indicator of the health of the housing market, fell for the second straight month in December and was far slower than economists anticipated. The National Association of Realtors’ Pending Sales Index, which tracks the number of homes that are under contract to be sold, dropped 3.8% in December from November and declined 6.9% from the same month a year ago. Activity was down across all regions in the U.S.

Apple reported their largest single quarter in terms of revenue ever, with sales growing over 11% despite supply challenges and the lingering effects of the pandemic.  Apple beat analyst estimates for sales in every product category except iPads. Profit was also higher than expectations. Apple stock traded higher on the news.

The personal consumption expenditures index, the Fed’s preferred inflation gauge, came in at 5.8 percent in December, up from 5.7 percent the prior month. That beat out the prior month to become the fastest pace since 1982.