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Marketplace All-in-One

Consumer sentiment jumps in January

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 19 January 2024

⏱️ 1 minutes

🧾️ Download transcript

Summary

Stocks close higher; people more optimistic about inflation, incomes; existing home sales fall in December; sales likely to pick up in early 2024.

Transcript

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0:00.0

This is the marketplace minute. I'm Justin Ho. The stock market was feeling good on Friday. The Dow

0:07.8

gained 1%, the S&P jumped 1.5% to a record closing closing high and the NASDAQ rose 1 and 7.

0:17.0

Consumers surveyed by the University of Michigan this month were a lot more optimistic about the economy

0:21.2

than they were in December.

0:22.2

In fact, consumer sentiment is at its highest level in optimistic about the economy than they were in December.

0:22.6

In fact, consumer sentiment is at its highest level in two years.

0:26.1

The survey found that more people think inflation has turned a corner,

0:29.2

and that their incomes will keep rising.

0:31.9

Fewer existing homes sold in December than in November,

0:34.8

according to the National Association of Realtors. For the year, the NAR found that the

0:38.9

median price of an existing home hit a record high, but existing home

0:43.3

sales fell to a 30-year low.

0:45.0

The NAR says it expects existing home sales to rise this month,

0:49.1

since mortgage rates have been falling.

0:50.9

The group also expects more inventory to come online over the next few months.

0:55.0

I'm Justin Ho, with the Marketplace Mement Act. You're going to.

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