2019 Econoday Investor's Journal Buy Now
Market Reflections  

January 18, 2018
The best economic news of the day comes from December's housing starts report where permits and completions for single-family homes rose solidly in what is a good sign for the new home market. Initial jobless claims were also positive, falling sharply but in data clouded by a large number of estimates that had to be made in the week.

Questions whether Washington will reach a stop-gap spending bill and avoid a shutdown didn't help stocks during the session as Dow fell 0.4 percent to 26,017. Demand for bonds continues to ease with both the 2-year and 10-year Treasury yields rising several basis points, to 2.05 and 2.62 percent respectively. But higher rates couldn't help the dollar as the dollar index fell 0.5 percent to 90.54. Oil held steady just under $64 with gold easing slightly to $1,325.