Stocks up for the week
High-profile mergers and a strong May retail sales report lifted stocks this week.
The Dow Jones Industrial Average closed the week at 26,089.61,
The S&P 500 closed the week at 2,886.98, up 0.5% from 2,873.34 last week. It’s up 15.2% year-to-date.
The NASDAQ closed the week at 7,796.66, up 0.7% from 7,742.10 last week. The NASDAQ is up 17.5% year-to-date.
Treasury bond yields hold at
The 10-year treasury bond closed the week yielding 2.09%, unchanged from 2.09% last week. The 30-year treasury bond yield ended the week at 2.59%, almost unchanged from 2.57% last week. We watch treasury bond yields because mortgage rates follow bond yields.
Mortgage rates remain at lowest levels in 2 years
Housing sales and price data for May will be released next week. We are expecting both prices and sales numbers figures to be higher.
If you’d like more information on the San Fernando Valley or Los Angeles, or to have help looking for your next home, please feel free to reach out! I’m happy to help, no obligation.