Daily News 4/28/15

April 28, 2015

Tuesday – April 28

Single-family home prices rose across the nation with a big concentration led by the West, as reported by the Case Shiller 20-city Index. On a year-over-year basis, prices rose 5.0% from February 2014 through February 2015, the fastest growth in six months, and above the 4.7% expected. From January to February, prices rose 0.5%. However, it was noted that home price gains continue to rise and outpace both inflation and wage gains. The report measures the change in prices of a group of homes in 20 major metropolitan areas in the U.S.

Consumers weren’t feeling that confident in April as job growth stalled, which more than offset low gas prices. The Conference Board’s Consumer Confidence Index fell to 95.2 this month, well below the 102.2 expected and down from 101.4 reported in March. The 95.2 represents the lowest level in 2015. Job growth slowed to 126,000 in March, which was the lowest since December 2013. A Conference Board spokesperson said there is little to “suggest that economic momentum will pick up in the months ahead.”

Apple reported yesterday that the company sold 61 million iPhones in its latest quarterly earnings report with $58 billion in revenues and profits of $13.6 billion – records for the second quarter. The news sent the price of shares of Apple to an all-time high of near $135. Apple also announced that it is increasing its dividend to shareholders to 52 cents a quarter, an 11% increase. The news comes just after the release of its newest device, the Apple Watch.