You are here

Market Snapshot: Week of Feb. 13 - 20

February 20, 2018
Juan Artiles
Newsroom Contributor

We believe that knowledge is power and we want you to have more of it. The best realtors can engage their customers in conversation on a wide-range of topics, from business trends and shifting political landscapes to the latest happenings in the world of sports, art, and pop-culture. We've summarized the biggest happenings from these sectors so that you don't have to.

Business

Market Snapshot (February 12th-16th)

Powered by MarketSnacks
Dow Jones: 25,219 (+4.24%)
S&P 500: 2,732 (+4.29%)
Nasdaq: 7,239 (+5.29%)

Market Winners:

  • Netflix upped the quality of its upcoming “Netflix Originals” when they signed “Nip/Tuck” and “Glee” creator, Ryan Murphy, to a 5-year $300 million deal. Get ready your popcorn ready for some binge-worthy material.
  • Kraft Heinz announced it cut $1.7 billion in costs. That's thanks to 3G Capital, the ruthlessly efficient Brazilian investment firm that helped arrange the Kraft & Heinz merger back in 2015.
  • Waymo is an autonomous car development company and subsidiary of Google's parent company, Alphabet Inc. Alphabet’s CFO, Ruth Porat, announced that Waymo will be releasing its own Waymo-branded ridesharing app later this year.
  • Match.com rose 5% Valentine's Day after CEO Mandy Ginsberg revealed Tinder's new female-friendly feature. The new feature will allow women to choose who makes the first move on the mobile dating application.

Market Losers:

  • Walmart's earnings missed analysts' expectations for the holiday period, as e-commerce growth slowed to 23 percent. The retailer calls for 40 percent e-commerce growth in fiscal 2019.

Other Market News:

  • The Dow and S&P 500 edged higher Friday to extend their rebounds as stocks showed firm signs of regaining their footing after a tumble earlier in the month.
  • Bitcoin climbed back to $11,000 for the first time since January. Fears over tighter regulation, which was one of the catalysts for the recent crash, appear to have subsided within the crypto market.

Real Estate

Local:

  • Colombian consumers posted the most web searches among foreign countries for Miami homes in December, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia registered 10.5 percent of all international searches on MIAMI’s portal in December 2017.
  • Amongst other highlights of the report, include:
    • South Florida finished as the most-searched U.S. market by international consumers and is a top-five market for consumers in the world’s six largest regions, according to December data.
    • Colombian home buyers tied with Canada in making the third-most international purchases in South Florida, according to the 2017 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members.
    • Miami-Fort Lauderdale-West Palm Beach is the most searched U.S. market by international consumers, according to Realtor.com December 2017 data.
    • Top-10 countries Driving International Demand in South Florida: December 2017
      1. Canada
      2. Brazil
      3. United Kingdom
      4. Argentina
      5. Spain
      6. Colombia
      7. Germany
      8. France
      9. Mexico
      10. Italy

Politics

Local:

National:

Sports

North America:

  • National Basketball Association (NBA): The 67th NBA All-Star Game took place Sunday night and showcased the best of the NBA’s talent. This year’s NBA All-Star Game also changed its’ format. The format change, with captains LeBron James and Stephen Curry choosing their rosters, proved to be a rousing success. Team LeBron’s furious 28-12 comeback in the final six minutes made the game an actual, real-life competition. For a recap of all the highlight events click here.

Europe:

Winter Olympics:

Entertainment

  • "Black Panther" earned just under $242 million in its U.S. opening over the long Presidents Day weekend. This is the second highest four-day haul in domestic box office history, according to Disney's final count. Black Panther easily bested the likes of Iron Man, Superman, and Batman during the Friday-Sunday period.
  • Ready for the ultimate food and wine experience in Miami? Treat your taste buds during 5 days of dinners, tastings, late-night parties, & at the South Beach Wine & Food Festival starting tomorrow, Feb. 21 until Feb. 25. For more info click here.

Quote

All the opinions expressed by Juan Artiles in this newsletter are solely his opinions. You should not treat any opinion expressed by his as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his opinions.

Recent Posts

In the Cervera Newsroom, our mission is clear: to inform, intrigue, and inspire Miami real estate professionals and consumers.

Miami-Dade County mid-market single-family home sales increased, and median prices rose for...

It’s a hive of activity at the Aston Martin Residences site in Miami where one of the largest...

Dwindling new developer condo inventory paired with increasing demand has resulted in a...

The numbers are in and April proved to be another strong month for Miami real estate...