House prices

http://mam.econoday.com/byshoweventfull.asp?fid=461542&cust=mam&year=2014&lid=0&prev=/byweek.asp#top

FHFA House Price Index

Released On 2/25/2014 9:00:00 AM For Dec, 2013 Prior Prior Revised Consensus Consensus Range Actual M/M change 0.1 % -0.1 % 0.3 % 0.1 % to 0.4 % 0.8 % Y/Y change 7.6 % 7.3 % 7.7 %

Highlights Home prices, according to the FHFA rebounded 0.8 percent in December after easing 0.1 percent the month before. But excluding some monthly volatility, the trend definitely has been upward. Prices have risen on a quarterly basis for ten quarterly in a row. The December increase topped expectations for a 0.3 percent monthly boost. Five Census divisions posted increases, one was flat, and two declined. On a year-ago basis, FHFA home prices for the U.S. were up 7.7 percent versus 7.3 percent in November. Rising home prices have helped support consumer confidence as home equity is returning, albeit moderately. Today's Case-Shiller report also pointed to improvement in home prices.

Market Consensus before announcement The FHFA purchase only house price index for November rose a modest 0.1 percent on a seasonally adjust basis, following a 0.5 percent rise the prior month. The November HPI is the 22nd consecutive monthly price increase in the purchase-only, seasonally adjusted index. Five of nine Census regions showed gains in the latest month while three declined and one was unchanged.

Definition The Federal Housing Finance Agency (FHFA) House Price Index (HPI) covers single-family housing, using data provided by Fannie Mae and Freddie Mac. The House Price Index is derived from transactions involving conforming conventional mortgages purchased or securitized by Fannie Mae or Freddie Mac.  Why Investors Care

The FHFA Home Price Index captures price data for an important segment of the housing market - home purchases with mortgages financed or bundled by federal housing agencies. However, this HPI does not cover high end housing. Data Source: Haver Analytics

Taxes and economic growth

http://blog.heritage.org/2012/04/25/of-course-higher-taxes-slow-growth-a-response-to-diamond-and-saez/

http://www.heritage.org/federalbudget/charts/2014/top10-percent-income-earners-560.jpg

Consumer sentiment

http://mam.econoday.com/byshoweventfull.asp?fid=461773&cust=mam&year=2014&lid=0&prev=/byweek.asp#top

Personal Income in December 2013

http://mam.econoday.com/byshoweventfull.asp?fid=461150&cust=mam&year=2014&lid=0&prev=/byweek.asp#top

2014 Economic Calendar

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Personal Income and Outlays Released On 1/31/2014 8:30:00 AM For Dec, 2013 Prior Prior Revised Consensus Consensus Range Actual Personal Income - M/M change 0.2 % 0.2 % 0.0 % to 0.4 % 0.0 % Consumer Spending - M/M change 0.5 % 0.6 % 0.2 % 0.1 % to 0.4 % 0.4 % PCE Price Index -- M/M change 0.0 % 0.2 % 0.1 % to 0.3 % 0.2 % Core PCE price index - M/M change 0.1 % 0.1 % 0.1 % to 0.2 % 0.1 % Personal Income - Yr/Yr change 2.3 % 2.3 % -0.8 % Consumer Spending - Yr/Yr change 3.5 % 3.3 % 3.6 % PCE Price Index -- Y/Y change 0.9 % 1.1 % Core PCE price index - Yr/Yr change 1.1 % 1.2 % Highlights Personal income was flat in December while spending was up. Income sluggishness may have been weather related. Personal income was unchanged after rising 0.2 percent in November. Markets expected a 0.2 percent rise. The wages & salaries component posted flat in December, following a 0.5 percent boost the month before. Personal spending, however, was moderately strong, rising 0.4 percent after a 0.6 percent boost in November. Spending was led by a 1.5 percent jump in nondurables with services gaining 0.4 percent. Durables declined 1.8 percent after a 1.8 percent increase the month before. The rise in personal consumption was not just price related. Real spending increased 0.2 percent in December after an increase of 0.6 percent in November. Headline inflation warmed a bit with a reading of 0.2 percent after no change in November. Excluding food and energy, PCE price inflation posted at 0.1 percent in December, matching the November pace. On a year ago basis, headline inflation was 1.1 percent in December versus 0.9 percent the month before. Core inflation nudged up to 1.2 percent from 1.1 percent. The year ago numbers are still well below the Fed's goal of 2 percent inflation. Overall, the consumer is still contributing to the recovery in terms of spending. However, on the income side it likely is a good idea to wait for January data to see how much of income sluggishness was weather related even though soft employment growth was a contributing factor. Market Consensus before announcement Personal income in November rebounded 0.2 percent, following a 0.1 percent dip in October. But the important wages and salaries component improved to a 0.4 percent gain in November after rising 0.1 percent the month before. Tugging down on personal income was the proprietors' income category which fell 1.3 percent after a 1.7 percent boost in October. The swing was in the farm subcomponent. Spending also accelerated a bit, jumping 0.5 percent after a 0.4 percent boost in October. No surprise, the latest gain was led by durables (largely motor vehicles) up 1.9 percent, following a 1.0 percent increase in October. Nondurables declined 0.4 percent after a 0.4 percent decrease in October. Lower gasoline prices likely played a role in November. Services jumped 0.6 in November, following a 0.3 percent rise the prior month. Inflation was non-existent. Headline inflation was unchanged on the month for both November and October. Core inflation rose 0.1 percent in each of the latest two months. On a year-ago basis, overall PCE price inflation posted at 0.9 percent in November, compared to 0.7 percent in October. Core inflation came in at 1.1 percent in both November and October. Definition Personal income is the dollar value of income received from all sources by individuals. Personal outlays include consumer purchases of durable and nondurable goods, and services.  Why Investors Care   Changes in taxes or social security cost of living adjustments can cause some sharp variations in monthly disposable income growth. However, on the whole, monthly changes in disposable income fluctuate less than monthly changes in personal consumption expenditures. Data Source: Haver Analytics   Monthly changes in personal consumption expenditures are usually skewed by large changes in spending on durable goods. Spending on nondurable goods and services tend to be less volatile from one month to the next. Data Source: Haver Analytics   Please note: Your browser must display iFrames to view the Interactive charts.

Super Bowl ads or players’ salaries: Which cost more?

By Lauren LysterJanuary 31, 2014 2:12 PMDaily Ticker

It's Super Bowl time. The biggest sporting event of the year has arrived and this year's game at MetLife Stadium in New Jersey has been billed as the most expensive one yet.

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The Super Bowl also means hundreds of millions of dollars are being spent to get in on the action, most of which has nothing to do with which team wins the game. We've followed the money in the above video, to show you where it's being spent and if it's paying off.

First, there are the ads.

According to The Los Angeles Times, 55 commercials will air during this year’s Super Bowl, with companies shelling out an average of $4 million for a 30-second spot. Advertisers spend as much as $2 million dollars to produce ads, which means a one-minute commercial can cost advertisers $10 million. That sounds like a lot and it is. Spending on ad time has gone up 70% alone in the last 10 years. 

Related: The best chicken wings and chili in the U.S.

Then there’s the money flowing into the local economy where the Super Bowl is held. The New York/New Jersy Super Bowl Host Committee estimates this year's game will bring $500 million to $600 million to New York and New Jersey. That sounds impactful, but some sports economists have said it’s really more likely to be a tenth of that judging by past Super Bowls.

Looking back at the 1999 Super Bowl in Miami, for example, the NFL claimed it generated close to $400 million, while a separate study by Robert Baade, a professor at Lake Forest College in Illinois, found it added under $40 million to South Florida’s economy.

Philip Porter, an economics professor at the University of South Florida, says one reason for the discrepancy is that visitors during game-week spend money on NFL souvenirs and at NFL-funded events. This year, for example, Times Square has been transformed into "Super Bowl Boulevard" with free activities for visitors and a $5 toboggan run that benefits charity.So fewer dollars are actually flowing into local businesses than you might think.

Related: Mixed Martial Arts: A Massive Lawsuit Waiting to Happen?

And of course, serious cash has gone into paying the athletes that will be playing Sunday. In the mid-1990s, the NFL instituted a salary capso that large and smaller market teams could compete on more even footing. But that doesn’t mean teams spend their money the same way.

Related: College football fumbles, Norhwestern's team wants to unionize

Looking at how this year’s quarterbacks stack up, the Denver Broncos’ Peyton Manning made $15 million in 2013, while Russell Wilson of the Seattle Seahawks made just over $526,000. (Wilson is a rookie.)

All this money spent and to think, the price for sitting on your couch watching the game is free.

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