Jan 28, 2025
Updated home price data from S&P CoreLogic Case Shiller was published this morning through the month of November 2024. Below is a summary table of key results across the 20 cities/regions tracked by Case Shiller.
Most cities saw home prices decline month-over-month from October to November, with San Francisco and Seattle down the most at roughly -0.75%. Boston, Miami, and New York were the only cities that saw meaningful gains month-over-month.
Over the prior year, 19 of 20 cities were up, with Tampa the only city down at -0.37%.
New York ranks first when it comes to year-over-year price gains at +7.32%.
After a major jump in home prices in the immediate aftermath of the pandemic, we saw a small dip in 2022 and 2023 when risk assets sold off hard. Since early 2023 lows, New York is also the city that has seen home prices jump the most at +16.76%.
Additionally, New York is now the only city where home prices are currently at all-time highs. On the flip side, San Francisco, Seattle, and Denver are all down more than 5% from all-time highs.
Below is a historical look at Case Shiller home prices for the 20 cities tracked along with the composite indices. We’ve highlighted New York in green because it’s the only city where prices are at all-time highs.
Jan 28, 2025
See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium. CLICK HERE to learn more and start your trial.
“Profitability is coming from productivity, efficiency, management, austerity, and the way to manage the business.” – Carlos Slim
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
Even though the S&P 500 was down 1.4% yesterday, there were 351 advancers and just 152 decliners within the index. As shown below, Technology, Utilities, and Industrials pretty much saw all of the pain, while Consumer Staples and Health Care were actually up more than 2%. All of the weakness yesterday came from declines in the companies that deal with producing and powering AI.
NVIDIA (NVDA) ended last week as the largest company in the world with a market cap of roughly $3.5 trillion. It ended Monday with a market cap of $2.9 trillion and now ranks as the third largest company behind Apple (AAPL) and Microsoft (MSFT). Since last Thursday’s close, NVIDIA (NVDA) has lost $705 billion in market cap!
Jan 17, 2025
See what’s driving market performance around the world in today’s Morning Lineup. Bespoke’s Morning Lineup is the best way to start your trading day. Read it now by starting a two-week trial to Bespoke Premium. CLICK HERE to learn more and start your trial.
“You may delay, but time will not.” – Benjamin Franklin
Below is a snippet of commentary from today’s Morning Lineup. Start a two-week trial to Bespoke Premium to view the full report.
Late last week and early this week we noted how extended the yield on the 10-year Treasury had gotten, and since then we’ve gotten a few cooler-than-expected inflation prints that finally caused the 10-year yield to not only stop going up, but also start pulling back. The pullback in yields has coincided with a rally in equities, but the bulls still have work to do. Both the S&P 500 ETF (SPY) and the Nasdaq 100 ETF (QQQ) have made a series of lower highs and lower lows since early December, and we’ve yet to see a break of that trend on the most recent bounce. As shown below, SPY has yet to get back above its 50-DMA and is sitting right below the top of its short-term downtrend channel. QQQ traded above its 50-DMA yesterday morning but pulled back intraday right when it touched the top of its own downtrend channel.
For both SPY and QQQ, one day of solid gains that hold into the close would break the recent downtrend, so we’ll see if the bulls have it in them today.
