Home prices, General Mills earns, consumer spending

Jun 26, 2022, 9:10 AM | Updated: 9:12 pm

A look at some of the key business events and economic indicators upcoming this week:

HOME PRICE MONITOR

A limited inventory of homes for sale coupled with strong demand has helped keep U.S. home prices climbing sharply.

S&P’s CoreLogic Case-Shiller home price index tracks the value of homes in 20 major U.S. metropolitan areas. It jumped 21.2% in March from a year earlier, up from a 20.3% year-over-year increase in February. Economists project that April’s reading, which is due out Tuesday, will show another 21.2% increase in home prices from a year earlier.

S&P CoreLogic Case-Shiller home price index, annual percent change, by month:

Nov. 18.3

Dec. 18.5

Jan. 19.0

Feb. 20.3

March 21.2

April (est.) 21.2

Source: FactSet

CHEW ON THIS

Wall Street expects that General Mills closed out its last fiscal year on a strong note.

Analysts predict the company’s fiscal fourth-quarter earnings and revenue increased from a year earlier. That would echo General Mills’ third-quarter results. The maker of Cheerios cereal and Blue Buffalo pet food raised its earnings forecast for 2022 in March, citing expectations for strong growth, in part due to higher prices. General Mills serves up its latest quarterly report card Wednesday.

INFLATION BELLWETHER

The Commerce Department delivers its May snapshot of consumer spending Thursday.

The report is closely monitored by the Federal Reserve as a barometer of inflation. While consumer spending has slowed on a monthly basis since climbing 2.1% in January, it rose a healthy 0.9% in April. Consumers’ willingness to keep spending freely despite inflated prices is helping sustain the economy, but could make the Fed’s goal of taming inflation even harder.

Consumer spending, monthly percent change, seasonally adjusted:

Dec. -0.9

Jan. 2.1

Feb. 0.6

March 1.4

April 0.9

May (est.) 0.7

Source: FactSet

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

FILE - In this Oct. 10, 2018, file photo Amazon Prime boxes are loaded on a cart for delivery in Ne...
Haleluya Hadero, Associated Press

Amazon says it had its biggest Thanksgiving shopping weekend

Amazon said Wednesday it had its biggest ever Thanksgiving holiday shopping weekend, aided by a record number of consumers looking for deals online amid high inflation.
20 hours ago
A sign at Twitter headquarters is shown in San Francisco, Friday, Nov. 18, 2022. (AP Photo/Jeff Chi...
David Klepper, Associated Press

Twitter ends enforcement of COVID misinformation policy

Twitter will no longer enforce its policy against COVID-19 misinformation, raising concerns among public health experts and social media researchers that the change could have serious consequences if it discourages vaccination and other efforts to combat the still-spreading virus. Eagle-eyed users spotted the change Monday night, noting that a one-sentence update had been made to […]
20 hours ago
FILE - Hong Kong media tycoon Jimmy Lai, center, who founded local newspaper Apple Daily, is arrest...
Associated Press

Hong Kong publisher’s national security trial postponed

HONG KONG (AP) — The trial of a Hong Kong newspaper publisher who was arrested in a crackdown on a pro-democracy movement was postponed Thursday after the territory’s leader asked China to effectively block him from hiring a British defense lawyer. Jimmy Lai, 74, faces a possible life sentence if convicted under a national security […]
20 hours ago
The Rose Bowl logo is seen during a fly over before the Rose Bowl NCAA college football game betwee...
Associated Press

AP source: Rose Bowl clears way for 12-team CFP in 2024

Rose Bowl game organizers cleared the way for the College Football Playoff to expand to 12 teams starting in the 2024 season, informing CFP officials Wednesday they are willing to alter agreements to accommodate a new format to decide the national champion. A person with knowledge of the discussions between game organizers and CFP officials […]
20 hours ago
Associated Press

El Salvador journalists sue spyware maker in US court

SAN SALVADOR, El Salvador (AP) — Journalists from an investigative news outlet in El Salvador sued NSO Group in United States federal court Wednesday after the Israeli firm’s powerful Pegasus spyware was detected on their iPhones. In January, the University of Toronto’s Citizen Lab, an internet watchdog, reported that dozens of journalists and human rights […]
20 hours ago
FILE - People hold signs and shout slogans before the cancellation of the Los Angeles City Council ...
Associated Press

LAPD seeks Reddit search warrant over leaked council remarks

LOS ANGELES (AP) — Police have sought a search warrant for the Reddit website as they try to identify the person who leaked a racist discussion between Los Angeles City Council members and a powerful labor leader, causing a scandal that has rocked the community and shaken faith in its lawmakers. The LAPD is trying […]
20 hours ago

Sponsored Articles

SHIBA WA...

Medicare open enrollment is here and SHIBA can help!

The SHIBA program – part of the Office of the Insurance Commissioner – is ready to help with your Medicare open enrollment decisions.
Lake Washington Windows...

Choosing Best Windows for Your Home

Lake Washington Windows and Doors is a local window dealer offering the exclusive Leak Armor installation.
Anacortes Christmas Tree...

Come one, come all! Food, Drink, and Coastal Christmas – Anacortes has it all!

Come celebrate Anacortes’ 11th annual Bier on the Pier! Bier on the Pier takes place on October 7th and 8th and features local ciders, food trucks and live music - not to mention the beautiful views of the Guemes Channel and backdrop of downtown Anacortes.
Swedish Cyberknife Treatment...

The revolutionary treatment of Swedish CyberKnife provides better quality of life for majority of patients

There are a wide variety of treatments options available for men with prostate cancer. One of the most technologically advanced treatment options in the Pacific Northwest is Stereotactic Body Radiation Therapy using the CyberKnife platform at Swedish Medical Center.
Work at Zum Services...

Seattle Public Schools announces three-year contract with Zum

Seattle Public Schools just announced a three-year contract with a brand-new company to the Pacific Northwest to assist with their student transportation: Zum.
Swedish Cyberknife 900x506...

June is Men’s Health Month: Here’s Why It’s Important To Speak About Your Health

According to the Centers for Disease Control and Prevention, men in the United States, on average, die five years earlier than women.
Home prices, General Mills earns, consumer spending