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Tuesday: Construction Spending


Schedule for Week of January 1, 2023

• At 8:00 AM ET, Corelogic House Price index for November.

• At 10:00 AM: Construction Spending for November. The consensus is for a 0.4% decrease in construction spending.

From CNBC: Pre-Market Data and Bloomberg futures S&P 500 are up 8, and DOW futures are up 75 (fair value).

Oil prices were mixed over the last week with WTI futures at $80.26 per barrel and Brent at $85.91 per barrel. A year ago, WTI was at $76, and Brent was at $78 – so WTI oil prices are up 4% year-over-year.

Here is a graph from for nationwide gasoline prices. Nationally prices are at $3.18 per gallon. A year ago, prices were at $3.26 per gallon, so gasoline prices are down $0.08 per gallon year-over-year.

Question #9 for 2023: What will happen with house prices in 2023?

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Question #8 for 2023: How much will Residential investment change in 2023? How about housing starts and new home sales in 2023?

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