Low Prices Ahead

Case Shiller confirms that home prices across the country rose 11.3% in 2013 and anticipates that number to shrink in half for the 2014 year (don’t shoot the messenger). Speaking of lower prices: Retail Sales rose by just 0.1% in April, way under the 1.2% increase in March.  So it’s a great time to go stock up on lots of stuff that you don’t need. The S&P Index just hit 1,900 for the first time ever before slinking back down under that mark.

Fame of the Fed

CoreLogic reports this morning that due to rising home prices, another 4 million American homes are no longer under water compared to this time last year.

Weekly Jobless claims fall to 323K, the lowest since November. Planned layoffs in the US fell 7.3% from January to February and are down 24% from Feb 2013.

Several Fed Governors have spoken out today against continuing to curtail Bond purchases “in light of soft economic indicators” lately–or perhaps they just want the Fed to remain in the spotlight as long as possible?