Daily Rundown

November 13, 2026

Chart of the Day

Number of the Day

5.1

The months’ supply of existing homes on the market at the current sales pace in October, up from 4.7 months in September and the most since 2015

Quote of the Day

“My bias is that further tightening will be needed because you just see this consistent pressure on inflation that isn’t simply in the sectors that are most directly affected by tariffs or oil.”

San Francisco Fed President Mary Daly

Thursday’s Highlights

Initial unemployment claims (week of 11/1) rose by 9,000 to 200,000.

Existing home sales (October) fell by 5.5 percent to their lowest level since 2010.

Quick Commentary

Existing single-family home sales are now not only at their lowest level in more than a decade, but are also back in line with their levels of the mid-1970s, mid-1980s, and early 1990s. The upshot is that there is likely relatively little further downside, especially now that inventories are slowly climbing and affordability has stopped falling. The median existing home price came in at $416,700 in October, up by just 0.4 percent year-over-year.

Today’s Highlight

Producer price index

Daily Trivia

In addition to being S&P 500 components, what do Alphabet, Biogen, and Veeva Systems have in common?

(Thursday’s Question: What product, which was inspired by a 1945 war movie, was such a hit that it accounted for roughly two-thirds of its parent company’s sales within two years of its introduction at the New York Toy Fair in 1964? Answer: G.I. Joe)