Prices Continue to Rise! (E41)

Home prices continue to rise due to the increasing demand for housing amid low inventory levels, resulting in a competitive market for prospective home buyers. However, there has been a decrease in pending home sales, possibly indicating a slowdown in the housing market in the coming months. The GDP surpassed expectations, reflecting economic growth, but jobless claims revealed weakness in the labor sector, raising concerns about the overall employment situation. Investors are closely monitoring the SPY, speculating on whether it will descend to 532 and anticipating a potential market correction. Meanwhile, Bitcoin’s value has dipped below the 60k mark, prompting discussions about the volatility of the cryptocurrency market. This week’s key data to look out for includes JOLT’s job openings, jobless claims, and the unemployment rate, all of which will provide valuable insights into the health of the labor market. If the labor sector continues to exhibit signs of weakness, there may be discussions about a potential rate cut by the end of the month, further impacting the financial landscape.