Economic update for the week ending October 27, 2018

Stocks suffer a turbulent week:

A positive GDP report showing that the economy grew at 3.5% in the third quarter, inflation was tame, and consumer spending was up, could not keep the markets from continuing to slide. This week. third quarter profits were reported that were below expectations. Those were mostly in the technology sector. Even Amazon did not hit their numbers. On the other hand, some companies like Ford and Tesla exceeded expectations. All in all, fears in the technology sector hit the NASDAQ hard. It lost 3.8% for the week and is now up just  3.8% for the year after being up 20% for the year just one month ago. The Dow and S&P also got hit hard down 3% and 3.9% respectively for the week. The Dow Jones Industrial Average closed the week at 24,688.31, down from 25,444.34 last week. It is down 0.1% year-to-date.  The S&P 500 closed the week at 2,658.69, down from 2,767.78 last week.  It’s down 0.6% year-to-date. The NASDAQ closed the week at 7,167.21, down from 7,449.03 last week.  It’s up 3.8% year-to-date.

Treasury Bond Yields lower this week:

The 10-year Treasury bond closed the week yielding 3.08%, down from 3.20% last week. The 30-year Treasury bond yield ended the week at 3.32%, down from 3.38% last week. We watch treasury bond yields because mortgage rates follow bond yields.

Mortgage rates almost unchanged this week:

The October 25, 2018 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.86%, almost unchanged from 4.85% last week. The 15-year fixed was 4.29%, slightly up from 4.26% last week. The 5-year ARM was 4.14%, up from 4.10% last week.

GDP up 3.5% in third quarter:

The U.S. Bureau of Economic Analysis announced that the first reading of the nation’s gross domestic product (GDP) rose by 3.5% in the third quarter of 2018.  That beat expectations of a 3.4% rise, but was well below the 4.2% increase registered in the second quarter of 2018. The report also said that The PCE price index, a key indicator of inflation, rose at a 1.6% annual rate in the quarter. That was well below the 2.2% annual increase analysts forecasted. Consumer spending, which accounts for about two thirds of the U.S. economy, grew by 4% in the third quarter. That marked the largest increase since the fourth quarter of 2014.

September Nationwide Existing Home Sales:

Data released this week from The National Association of Realtors showed that total existing home sales fell again in September. The number of existing homes sold in September fell 3.4% from August, and are down  4.1%  from one year ago. The median price paid for a home in the U.S. was up 4.2% from last September. That marked the 79th straight month of year over increases. The unsold inventory index is at a 4.4 month supply, up slightly from a 4.2 month supply one year ago. 

September California Existing Home Sales:

The California Association of Realtors reported that existing single family home sales totaled 382,550 in September on a seasonally adjusted annualized rate. That was down 4.3% from August and down a staggering 12.4% from last September, when sales totaled 436,920 on a seasonally adjusted annualized rate. The median price paid for a home in California was $587,850, up 4.2% from September 2017. On a more regional level, the median price increased 4.7% in Los Angeles County, 10.6% in Ventura County, and 3.3% in Orange County from one year ago. Inventory levels continued to rise after hitting historic lows in 2017. The unsold inventory index in California stood at a 4.2 month supply in September, up from a 3.3 month supply in September 2017. Inventory levels have now increased for 6 straight months and are up 20.4% from one year ago. Listings are at the highest level in 31 months. Los Angeles County has a 4.4 month supply, up from a 3.1 month supply last September. Orange County has a 4.3 month supply,  up from 3.1 months last September. Ventura County had a 6.3 month supply of homes, up from a 4.7 month supply one year ago. 

Have a great weekend!

Weekend Events: Oct.5th-7th

Warner Bros' Horror Made Here Studio Tour

Do you smell that in the air? Pumpkin season has officially begun. So throw together your witches brew, dig out your favorite fall sweater and take part in all things October kicking off this weekend with a howl.

With all the hustle and bustle of our weekday routine we bring you a curated list of the weekends top activities happening throughout the city of stars.

Discover your inner Angeleno!

Limited engagements taking place this Oct. 5th-7th feature Warner Brothers Festival of Frights to Veuve Clicquots annual Polo Match. Read below for a breakdown of the weekend events.

Friday Oct. 5th, 2018

Warner Bro’ Horror Made Here: A Festival of Frights

Warner Bros' Horror Made Here Studio Tour
Warner Bros’ Horror Made Here Studio Tour

Location: Warner Bro. Studios–6510 Forrest LAwn Drive, Los Angles

The WB’s famed backlot studio tour goes for full frights as they transform into  haunting square. Brave through a maze inspired by The Conjuring or attempt to tour Freddy vs. Jason’s Camp Crystal Lake and Batman’s Arkham Asylum. Other highlights include horror makeup demos, ephemera from Tim Burton films, and a special screening of select scenes from 1973’s The Exorcist.  If your feeling parched, True Blood’s Fangtasia will be serving for all the visiting vamps. And if you happened to miss last years scariest haunted attraction. the IT haunted house returns as a pop-up for the fest.

More info

Adult Swim Festival

Adult Swim Festival
Adult Swim Festival

Location: Row DTLA

Let your inner kid out out this weekend for Cartoon Networks “Adult Swim” Festival. Taking place over three days at the Row DTLA, the schedule features acts from Thudercat, Zola Jesus, Hannibal Buress and Nick Rutherford.  Along with a variety of games, food, drinks, and previews of upcoming shows-Friday is giving a preview of the weekends events before it goes into full swing Saturday and Sunday. With music, comedy, and so much more, it’s the perfect way to jumpstart your weekend. For more info click here.

Mr. Bones Pumpkin Patch

Mr. Bones Pumpkin Patch
Mr. Bones Pumpkin Patch

Location: 10100 Jefferson Boulevard, Culver City

Make your way to Mr. Bones Pumpkin Patch Opening Ceremony! This family-friendly pumpkin patch-slash-amusement park has been an LA staple for over three decades, not just for great jack-o’-lantern materials, but for bounce houses, straw mazes, and petting zoos. Naturally, it’s open through Halloween proper, and if you have family in town it’s a great place to take them — Mr. Bones is notorious for celeb sightings, too. For more info click here.

Saturday Oct. 6th, 2018

Veuve Clicquot Polo Classic

Veuve Clicquot Polo Classic at Will Rogers State Historic Park
Veuve Clicquot Polo Classic at Will Rogers State Historic Park

Location: Will Roger’s State Park, Pacific Palisades

Pick out the perfect wide-brimmed hat and your daytime finest because Veuve Clicquot returns to Will Rogers State Park. Led by Argentine polo star Nacho Figures, the annual match is a day well spent of sips and sites. The celeb-filled soiree with the likes of Gwyneth Paltrow, Mandy Moore, and Lea Michele kicks off with Champagne bars and Food Trucks at 11am. After you’ve fueled up head to the field to cheer on the teams in the 2pm game. Tickets are sold out on the Veuve site but still available on For more info click here.

Hammer Museum: Fall Exhibits Opening Ceremony

Hammer Museum
Hammer Museum

Location: Hammer Museum, Westwood

Usher in the opening of the Hammer Museum’s fall exhibitions. “Adrian Piper: Concepts and Intuitions, 1965-2016” and “Stones to Stains: The Drawings of Victor Hugo,” opens in the Westwood museum this Saturday. The exhibition includes a free party in the museum’s courtyard, featuring a cash bar, DJ sets and food trucks. Have a little fun and culture yourself! For more info click here.

Street Food Cinema Presents: Beetlejuice in Victory Park

Beetlejuice 30th Anniversary Screening
Beetlejuice 30th Anniversary Screening

BEETLEJUICE! BEETLEJUICE! BEETLEJUICE! Don’t miss out ton the 30th Anniversary screening of Beetlejuice in Pasadena’s Victory Park. Bring your blankets, chairs, dogs, children, cousins, and make your way to one of L.A.’s favorite outdoor cinema events. Street Food Cinema will also be renting out chairs for those not wanting to BYOS(Bring your own seats). With live music kicking off the night and food trucks on standby, there’s no better way to take in the night under the stars. Tickets vary in price and more information can be found by clicking here.

Sunday Oct. 7th, 2018

COAST Open Streets Festival

Santa Monica COAST Festival
Santa Monica COAST Festival

Location: Main Street & Ocean Ave, Santa Monica

Explore the city of Santa Monica as this third annual event transforms two miles of streets into a festival for the day. Arrive by bike, bus, train, or walk your way to this free day of fun alongside stilt walkers, DJs, and local bands. Feel the seaside breeze while exploring interactive COAST Zones celebrating arts, culture, sustainability as well as other attractions along the route. Taking place on Main Street and Ocean Ave. For more info click here.

Twilight on the Pier: Finale Concert

Twilight on the Pier-Santa Monica
Twilight on the Pier-Santa Monica

Spend the finale of your weekend at Twilight on the Pier’s final performance. In its 34th year, this outdoor music concert in Santa Monica’s famous seaside spot is an evening adventure. Complete with immersive art, food offerings, a beer and spirits garden, games and interactive activations all along the Pier promenade. For more information click here.

Weekend Events: Sept 28th-30th

Celebrate LA!
By: Samira Murphy

Are you ready for it? The most ghoulish time of the year is around the corner. You have your seasonal decor on cue and your already contemplating how soon is too soon to buy all things Pumpkin Spice. No fret, we’ve got you covered. Swing into the fall spirit with these events happening in and around L.A. Some spook worthy, some just plain fun.

With all the hustle and bustle of our weekday routine we bring you a curated list of the weekends top activities happening throughout the city of stars.

Discover your inner Angeleno!

Limited engagements taking place this Sept. 28th-30th features the return of the Dino Fest at The National History Museum to the spooktacular Haunted Hayride in Griffith Park . Read below for a breakdown of the weekend events.

Friday sept. 28th

It’s Friday night and if your like most of us, your looking to ease into the weekend not bungee jump.

Beck @ The Hollywood Bowl
Weekend Event: Beck @ The Hollywood Bowl

It’s not too late to grab tickets to Beck and the Hollywood Bowl. Pick-up a Picnic to go from Joan’s on 3rd and sit out under the stars as you listen to the Grammy Award winner’s best works. With hits as diverse as the Dadaist anthems of Odelay through the classic Californian songcraft of Grammy® Album of the Year Morning Phase to his current gem, Colors, the Beck catalogue is sure to receive a thorough airing during a magical night at the Bowl. Show starts at 7:30 pm and tickets are available here.

Theatricum Botanicum
Weekend Event: Theatricum Botanicum

Wanting a little closer to the other side of the hill? No need to make the drive because Theatricum  Botanicum is hosting their “Under the Oaks” concert series featuring the Composer’s Collective. An annual concert presenting new works and beloved classics by some of LA’s most popular and innovative musicians of television, movies, the concert hall, and more. Find yourself surround by sounds and nature in Topanga’s favorite outdoor theatre venue. Tickets and additional information are available here.

Saturday Sept. 29th
Dino Fest @ The National History Museum of Los Angles
Weekend Event: Dino Fest @ The National History Museum of Los Angles

Spend your weekend with the original terror titans–it’s the return of Dinofest at the National History Museum! Fun for the whole family, explore the prehistoric world of our Dino friends. Taking place for two days only, visitors will meet Museum scientists and see rarely exhibited objects, take part in hands-on activities for the entire family, enjoy a Dino Encounters Show, and meet and greet with Buddy the Dinosaur from the PBS hit show Dinosaur Train from 10am-2pm each day. Buy your tickets online and receive a limited-edition dinosaur pin at the door, while supplies last. For more info click here.

Haunted Hayride @ Griffith Park
Weekend Event: Haunted Hayride @ Griffith Park

Looking for something a bit more haunting? In it’s 10th year, the Haunted Hayride at Griffith Park is sure to give a spook. Filled with all sorts of ghastly ghouls and monsters alike-patrons will find themselves on a frightful journey through the old L.A. Zoo. Too chilling? The “scary-go-round” for wee ones (and ‘fraidy cats)is also on site, as well as a number of scare zones and a even a pitch black maze filled with “demons and maniacs” of the night. For more details be warned and click here.

Sunday Sept. 30th


Celebrate LA!
Weekend Event: Celebrate LA!

In what is likely the best way to discover our L.A. neighborhoods with all day fun for the entire family is the LA Phil’s 100th Anniversary celebration-Celebrate LA!. Stretching from the Walt Disney Concert Hall to the Hollywood Bowl, this FREE music filled fest features over 1,800 musicians, artists and dancers that will perform at six pedestrian hubs across the eight-mile route, including Dâm-Funk, Dengue Fever, Dustbowl Revival, Jeff Goldblum, Ozomatli and Rivers Cuomo. So bike, walk, or skate your way down and don’t miss out on this history making event. For more info click here. 

Abbot Kinney Festival
Weekend Event: Abbot Kinney Festival

Prefer to stay on the Westside? It’s a weekend of festivals citywide, because Abbot Kinney is hosting their annual street fair this Sunday too!

“The Abbot Kinney Festival in Venice, California, spans world-famous Abbot Kinney Boulevard, dubbed the coolest block in America by GQ Magazine. The mile-long street’s eclectic boutiques and artisan eateries infuse the festival with local Venice flavor. Occurring each year on the last Sunday in September, this highly anticipated summertime tradition is 34 years strong”.

This year pursue through dozens of food trucks and vendors, as well as four live music stages. See what makes Abbot Kinney so “Quintessentially L.A.” , Click here for more info.