House prices in 20 cities are up 10.9 percent since 2012, according to S&P/Case-Shiller index. Experts say the acceleration in house prices will continue as buyers get back in the market and new home construction lags.
Durable goods jump 3.3 percent, boosted by orders for transportation equipment. Also this week: Procter & Gamble turns to former CEO, extended jobless claims hit post-recession lows, and Ben Bernanke speaks to Congress.
A strong rise in new home sales and an even stronger jump in home prices capped off yet another good month for the housing market. But a return to normal conditions is likely to take several years.
One year after the disastrous Facebook IPO, the company is making strides in mobile ad revenue, but its stock price is still far below its original IPO price. Also this week: Consumer sentiment hits six-year high; retail sales rise unexpectedly; and the world has a new (old) richest person.
The IRS is under fire for the extra scrutiny its workers gave to 'Tea Party' and 'Patriot' groups' applications for tax-exempt status. Plus, the Dow hit a milestone, jobless claims continued to drop, and other news from around the US economy this week.
With the Dow Jones Industrial Average hitting the 15000 milestone and economic signals flashing continued growth, the case for bull market optimists looks stronger. But there are reasons to be cautious about a retrenchment of the Dow.