Stock markets mixed this week – The Dow was up as corporate earnings of DOW companies are beating expectations. The Nasdaq and S&P were unchanged. The Dow Jones Industrial Average ended the week at 21,830.21, up from 21,580.07 last week. The S&P 500 closed the week at 2,472.10, unchanged from its close last week of 2,472.55. The NASDAQ closed the week at 6,374.78, almost unchanged from last week’s close of 6,387.75.
Bond yields rise this week– The 10-year Treasury bond closed the week at 2.30%, up from 2.24% last week. The 30-year treasury yield ended the week at 2.89%, up from 2.81% last week. Mortgage rates follow treasury bond yields so we watch bond yields carefully.
Mortgage Rates lower this week– The July 27, 2017 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 3.92%, down from 3.96% last week. The 15-year fixed was 3.20%, down from 3.23% last week. The 5-year ARM was 3.18%, down from 3.21% last week.
U.S. existing home sales drop in June, but still higher than 2016 levels – Prices continue to rise – The National Association of Realtors reported that existing home sales, which are completed transactions that include single-family homes, town-homes, condominiums, and co-ops, decreased 1.8 percent to a seasonally adjusted annual rate of 5.52 million in June from 5.62 million in May. Despite last month’s decline, June’s sales pace is 0.7% above a year ago, but is the second lowest of 2017 (February, 5.47 million). We are still on pace for either the most sales ever in the U.S. The median pricefor an existing-home in June was up 6.5% from June 2016. June marked the 64th straight month of year-over-year price gains. Total housing inventory at the end of June declined 7.1% from last June’s level. The number of homes for sale has fallen year-over-year for 25 consecutive months. Unsold inventory is at a 4.3-month supply at the current sales pace, which is down from 4.6 months a year ago.
New home sales rise in June – The Commerce Department reported that sales of new homes rose 0.8% in June from May’s sales levels. Year over year new home sales are a staggering 9.1% higher than the number of new home sales last June. New home sales in the west increased 12.5% to the highest number of new home sales since July 2007.
Just like every weekend, there are plenty of things going on in the city of angels! From a crawfish festival to a movie screening to a watermelon festival–there’s so much to do! To help you plan your weekend, take a look at the schedule below. Enjoy!Friday July 28th, 20171. Long Beach Crawfish Festival at the Rainbow Lagoon Park.
2. Lucky Rice’s Los Angeles Feast.
3. Rooftop Cinema Club at The Montalban in Hollywood.
4. Rick and Morty’s RickMobile coming in town. Will be at A Shop Called Quest on Friday and Earth-2 Comics in Northrdige on Saturday.
5. Tom Gun LIVE: A Maverick’s Homage.
6. Summer Nights in the Garden at the Natural History Museum.
7. Dance DTLA at Grand Park.
8. Free summer movie screenings at Pershing Square.
9. The Last Book Review at The Last Bookstore in DTLA.
10. Shakespeare By The Sea at Wilson Park in Torrance.
11. Public sample sale at theCalifornia Market Center in DTLA.
12. Summer Night concerts & movies at Vincent Lugo Park in the City of San Gabriel.
13. Summer Movie Fest at Cal State Northridge’s Oviatt Library Lawn.
14. Cocktail classes at Greenbar Distillery in DTLA.
15. Old Pasadena Summer Cinema at Distant Lands and at One Colorado.
16. Grand Performances in DTLA.
17. Summer Supper + Show Series on the rooftop of the Ritz-Carlton in DTLA.
Saturday July 29th, 2017
18. Summer Happenings at The Broad.
19. Politicon 2017 at the Pasadena Convention Center.
20. Street Food Cinema at Central Park Glendale and at Poinsettia Rec Park West Hollywood.
21. Free public star party hosted by the Griffith Observatory.
22. Off the 405 at the Getty Center.
23. The Sinister Circus hosted by The Queen Mary’s Dark Harbor.
24. The Earth Focus Environmental Film Festival at the Egyptian Theatre in Hollywood.
25. Midsummer Scream Halloween Festival at Long Beach Convention Center.
26. KCRW’s Summer Nights.
27. Tribute to Amy Winehouse taking place at the Rockwell Table & Stage.
28. Movies on the Green at the Lou Bredlow Pavilion in Warner Center Park in Woodland Hills.
29. Love Long Beach 2017 at Shoreline Aquatic Park.
30. California Watermelon Festival at the Hansen Dam Soccer Fields in Lake View Terrace.
31. All-day dance event at Grand Park.
32. Screening of Downtown 81 hosted by Delicious Pizza.
33. Free summer concerts at Pershing Square.
34. Eat|See|Hear at The Autry Museum.
35. Four hour foodie tour.
36. Shakespeare By The Sea at Point Fermin Park in San Pedro.
37. Grand Performances in DTLA.
38. Movie Picnic Night at Alhambra Park.
39. The Electric Dusk Drive-In at the LACCD Van De Kamp college campus.
Sunday July 30th, 201740. The Johnny Ramone Tribute at the Hollywood Forever Cemetery.
41. Angeleno magazine’s Live & Dine LA.
42. Free Shakespeare at the Old Zoo in Griffith Park.
43. Rooftop Cinema Club at LEVEL in DTLA.
44. Shakespeare By The Sea at Point Fermin Park in San Pedro.
Below is a handy list of museums offering free admission during the month of August!
The list only includes museums that generally charge an entrance fee, such as The Getty, California Science Center, and many more.
Enjoy this “cheat-sheet” and remember, there are dozens of other museums around Los Angeles that are free 365 days of the year!
[AUGUST 1] Kidspace Museum (4 – 8 p.m.)
[AUGUST 3] Skirball Cultural Center
[AUGUST 3] Huntington Library (must reserve passes in advance for the free day)
[AUGUST 3] Japanese American National Museum ( 5 – 8 p.m.)
[AUGUST 3] MOCA Grand & MOCA Geffen (5 – 8 p.m.)
[AUGUST 3] Long Beach Museum of Art (3 – 8 p.m.)
[AUGUST 4] Long Beach Museum of Art
[AUGUST 4] Norton Simon Museum (5 – 8 p.m.)
[AUGUST 4] Pasadena Museum of California Art (noon to 5 p.m.)
[AUGUST 6] Museum of Latin American Art
[AUGUST 6 ] Craft and Folk Art Museum (pay what you are able to)
[AUGUST 8] Los Angeles County Museum of Art
[AUGUST 8] Autry Museum of the American West
[AUGUST 10] Skirball Cultural Center
[AUGUST 10] Long Beach Museum of Art (3 – 8 p.m.)
[AUGUST 10] Japanese American National Museum (5 – 8 p.m.)
[AUGUST 10] MOCA Grand & MOCA Geffen (5 – 8 p.m.)
[AUGUST 11] Long Beach Museum of Art
[AUGUST 13] Museum of Latin American Art
[AUGUST 13] ] Craft and Folk Art Museum (pay what you are able to)
[AUGUST 15] Los Angeles County Arboretum
[AUGUST 15] South Coast Botanic Garden
[AUGUST 15] Descanso Gardens
[AUGUST 17] MOCA Grand & MOCA Geffen (5 – 8 p.m.)
[AUGUST 17] Skirball Cultural Center
[AUGUST 17] Long Beach Museum of Art (3 – 8 p.m.)
[AUGUST 17] Pasadena Museum of California Art (5 – 8 p.m.)
[AUGUST 17] Japanese American National Museum
[AUGUST 18] Long Beach Museum of Art
[AUGUST 20] Museum of Latin American Art
[AUGUST 20] ] Craft and Folk Art Museum (pay what you are able to)
[AUGUST 24] Japanese American National Museum (5 – 8 p.m.)
[AUGUST 24] MOCA Grand & MOCA Geffen (5 – 8 p.m.)
[AUGUST 24] Skirball Cultural Center
[AUGUST 24] Long Beach Museum of Art (3 – 8 p.m.)
[AUGUST 25] Long Beach Museum of Art
[AUGUST 27] Museum of Latin American Art (5 – 9 p.m.)
[AUGUST 27] Museum of Latin American Art
[AUGUST 27] Craft and Folk Art Museum (pay what you are able to)
[AUGUST 31] Skirball Cultural Center
[AUGUST 31] Long Beach Museum of Art (3 – 8 p.m.)
[AUGUST 31] Japanese American National Museum (5 – 8 p.m.)
[AUGUST 31] MOCA Grand & MOCA Geffen (5 – 8 p.m.)
Reminder, verify the status of free days before you visit the museum, and get more details on parking costs and ticketed exhibitions.
Walking is easy to do and one of the best things you can do for your health. Getting your steps in can help you lose weight, lower your blood pressure, and even reduce your risk of several chronic diseases.
It’s an excellent form of exercise and a great way to stay active! With that being said, Los Angeles has many options for those who want to get out and get their walk on.
Here are a few suggestions:
1. The Hollywood Bowl Many may not know this, but The Hollywood Bowl is a public park during the day. Visitors can explore, learn more about the Bowl and take a beautiful walk along the way. -> Learn more.
2. Lake Hollywood Trail You can get about 7,000 steps out of the Lake Hollywood Trail. The 3.3 mile loop takes you around the Hollywood Reservoir. -> Check out the trail here.
3. Echo Park Lake One loop around the Echo Park Lake will give you around 2,000 steps. The loop is under a mile and offers steppers the opportunity to enjoy the beautiful lotus plants and blossoms during the spring months. -> Walk the lake.
4. Exposition Park Rose GardenOne loop around the Exposition Park Rose Garden and you’re looking at around 5,000 steps. Here you can enjoy more than 200,000 rose bushes along your walk. Go here.
5. Encino Golf LoopEncino Golf loop is almost 5 miles long and takes you round the Valley golf course. You can get about 10,000 steps on this loop. -> Walk the Encino Golf loop.
6. Venice Beach Venice Beach is a well-known beach-walking area in L.A. Beginning and ending at Ocean Front Walk, you will get about 4,000 steps on the trail. -> Walk here.
7. Veterans Parkway Veterans Parkway, referred to by locals as the “greenbelt,” runs through Manhattan Beach and Hermosa Beach. You can get about 15,000 steps in if you walk back and forth from both communities–that’s about 7 miles. Go here.
8. The Music Box StepsThe Music Box Steps are located in Silver Lake and will not disappoint your step tracker! If you plan on doing all the staircases, you will get about 5,500 steps in–it’s a total of 2.5 miles and 705 stairs. -> Details.
9. Descanso Gardens The museum has many natural displays. Visitors can count their steps while also enjoying the rose garden, the Japanese garden and several other collections at the Descanso Gardens. -> Walk the garden here.
10. Ikea in Burbank You can get approximately 2,000 steps in just by walking through The new Burbank Ikea. Make sure to take some comfortable shoes and enjoy the furniture displays and the food. -> Walk and shop at Ikea Burbank.
11. The Rose Bowl The Rose Bowl is a popular spot to exercise. The loop is about a 90 minute walk and 6,500 steps. Visitors are here daily to get their exercise in. -> Walk the Rose Bowl.
12. UCLA Drake Stadium Four times around this 9-lane track equals one mile, which is about 2,000 steps. The Drake Stadium is a great place to get your collegiate spirit on and to work out. -> Get on track.
13. Baldwin Hills Scenic Overlook You can get more than 2,400 steps in just by hiking the Baldwin Hills Scenic Overlook. Whether you take the 282 stairs or the trail, you’ll get a workout and also enjoy a great view. -> Climb the Baldwin Hills Scenic Overlook.
14. Mandeville Canyon TrailMandeville Canyon is a 7.2 mile hike. You can get almost 16,000 steps at this trail. Located within the Santa Monica Mountains, the trail gives you an amazing view of Los Angeles once you reach its highest point of elevation. -> Take the hike.
Downtown Los Angeles’ newest food hall is expected to open soon!
Corporation Food Hall will be located down the street from the Spring Street Arcade and Grand Central Market. The new food hall announced its lineup last week.
Coming to the food hall is Tacos Tu Madre, Poke 2 Go, Pig Pen Delicacy, On the Thirty, Bardonna, Soom Soom, Buddha Belly, and Funculo.
The hall has nine stalls in total with communal seating down the middle. No word on when Corporation Food Hall will open, but it should be soon!
The address to Corporation Food Hall is 724 S. Spring Street, Los Angeles.
Stocks almost unchanged this week – In a calm week, the S&P and Nasdaq remained at record highs while the Dow was slightly lower than the record highs of last week. The Dow Jones Industrial Average ended the week at 21,580.07, down from 21,637.74 last week. The S&P 500 closed the week at 2,472.55, up from its close last week of 2,459.27. The NASDAQ closed the week at 6,387.75, up from last week’s close of 6,312.47.
Bond yields drop this week – The 10-year Treasury bond closed the week at 2.24%, down from 2.33% last week. The 30-year treasury yield ended the week at 2.81%, down from 2.91% last week. Mortgage rates follow treasury bond yields so we watch bond yields carefully.
Mortgage rates lower this week week – The July 20, 2017 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 3.96%, down from 4.03% last week. The 15-year fixed was 3.23%, down from 3.29% last week. The 5-year ARM was 3.21%, down from 3.27% last week.
L.A. County unemployment rate unchanged in June – The unemployment rate remained at a record low of 4.4% in June. A year ago, the unemployment rate stood at 5.2%.
California existing home sales and prices up in June – The California Association of Realtors announced that sales of existing, single-family detached homes totaled a seasonally adjusted annualized rate of 443,150 units in June. The statewide sales figure represents what would be the total number of homes sold during 2017 if sales maintained the June pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales. The June figure was up 3.3% from the revised 428,890 level in May and up 2.4% compared with home sales in June 2016 of a revised 432,880. Year-to-date sales are running 3.2% ahead of last year’s pace.
The statewide median price was up 0.9% from a revised $550,080 in May to reach $555,150 in June, and was 7.0% higher than the revised $518,830 recorded in June 2016. The median sales price is the point at which half of homes sold for more and half sold for less.
Foreign home buyers set U.S. record – The National Association of Realtors announced that foreigners purchased 284,455 residential properties in the 12 months ending March 31, 2017. That’s an increase of about 34% from the same period one year ago. The dollar volume surged nearly 50% to $153 billion. That was a new record. Chinese nationals purchased $31.7 billion worth of residential properties, up from $27.3 billion one year earlier. The group with the largest increase was Canadians, who purchased $19 billion worth of residential properties, up from $8.9 billion in the 12 months ending March 31, 2016. It was a dramatic jump considering that the strong U.S. dollar makes properties more expensive. Foreign buyers spent $35 billion on California residential properties. That was up from $27 billion one year earlier. Asian buyers represented 71% of foreign buyers in California, up from 51% a year earlier.
There’s so much to do this weekend in Los Angeles. If you don’t have any plans, take a look at the schedule below!
Friday July 21st, 2017
The Broad announces release date for tickets to Yayoi Kusama’s ‘Infinity Mirrors’ exhibit
The Broad has announced the released date for tickets to “Yayoi Kusama: Infinity Mirrors.”
The exhibit is a more in-depth take on Kusama, the artist behind the “Infinity Mirrored Room – The Souls of Millions of Light Years Away,” which is the biggest draw at The Broad.
Tickets will go on sale Friday, September 1 at 12 p.m. The exhibit will include six of Kusama’s Infinity Rooms, including:
Infinity Mirror Room – Phalli’s Field
Infinity Mirrored Room – Love Forever
Infinity Mirrored Room – All the Eternal Love I Have For The Pumpkins
Infinity Mirrored Room – The Souls of Millions of Light Years Away (currently at the Broad and included in the exhibit)
Infinity Mirrored Room – Dots Obsession – Love Transformed into Dots
Infinity Mirrored Room—Aftermath of Obliteration of Eternity
..and for those who would like to participate, there will also be ‘The Obliteration Room.’ Guests can cover every space of the all-white gallery with polka dot stickers!
The exhibit is making a tour across six venues in North America, which includes one stop in California. The experimental artworks will be at The Broad from October 21 to January 1, 2018.
Tickets for adults will be $25 and free for children 12 and under. On-site standby tickets for adults will be $30. Same-day general admission to The Broad’s third-floor galleries is included with the ticket purchase. Tickets can be purchased on the museum’s website.
For more details on the exhibit, click HERE.
The Broad is located at 221 S. Grand Avenue, Los Angeles.
Stock markets end week at record highs – The S&P and the Dow set records this week as stocks climbed Wednesday, Thursday and Friday. The start of second quarter earnings season began Friday. Earnings of companies in The S&P were up 15.3%. The rise was across the board fueled by several sectors. Energy stocks climbed as crude oil prices rose. Technology and healthcare companies saw modest gains. Retail rebounded after analysts upgraded the sector following encouraging news from Target and others. This calmed investors who brushed off a report that showed retail was weaker in June. Financials were also up as several big banks reported second quarter earnings that beat expectations. The Dow Jones Industrial Average ended the week at 21,637.74, up from 21,414.34 last week. The S&P 500 closed the week at 2,459.27 unchanged from its close last week of 2,425.18.The NASDAQ closed the week at 6,312.47 up from last week’s close of 6,153.08.
Bond yields drop this week- Federal Reserve chairwoman Janet Yellen spoke earlier in the week. In her comments it appeared that the Fed plans to slow down the pace of interest rate increases. The Fed has raised its benchmark rates three times since December. She also stated that the economy was healthy, but reiterated that inflation was well below the Fed’s target level. The 10-year Treasury bond closed the week at 2.33%, down from 2.39% last week. The 30-year treasury yield ended the week at 2.91%, down from 2.93% last week. Mortgage rates follow treasury bond yields so we watch bond yields carefully.
Mortgage Rates higher this week – The July 13, 2017 Freddie Mac Primary Mortgage Survey reported that the 30-year fixed mortgage rate average was 4.03%, up from 3.96% last week. The 15-year fixed was 3.29%, up from 3.22% last week. The 5-year ARM was 3.27%, up from 3.31% last week. Unfortunately, rates rose late in the week so next weeks rates will be higher.
Consumer prices flat in June – U.S. Consumer prices slowed to a 1.6% growth rate for the 12 months ending June 30. This was down from an already stubborn inflation rate of 1.9% in May. The core inflation rate, which excludes food and energy was unchanged at 1.7%. Analysts expect that this low inflation rate will prompt the Fed to hold off on any interest rate hikes, at least for now.
There are plenty of activities and events going on in Los Angeles this weekend!
From Friday – Sunday you can enjoy events such as a lobster festival, a rooftop movie, and even a lotus festival!
Below is a list of things to do. Enjoy!
Friday July 14th, 20171. Free summer movie screenings put on by Pershing Square.
2. Friday Flights at the Getty
3. Outdoor Movies at the Skirball
4. Summer Nights in the Garden at the Natural History Museum in DTLA.
6. Port of Los Angeles Lobster Fest
7. Los Angeles Soul Music Festival
8. Quiet Clubbing Party at FIGat7th.
9. Free Shakespeare this summer at the Old Zoo in Griffith Park.
10. Champagne & Oysters Soirée at Mr. C
11. Modo Yoga hosting Karma Classes at their La Brea and Echo Park locations.
12. Summer Supper + Show Series on the rooftop of the Ritz-Carlton in DTLA.
13. Dance DTLA at Grand Park.
14. Westwood Village’s Cinema Under The Stars
15. Shakespeare By The Sea at Monte Verde Park in Lakewood.
16. Cocktail classes hosted by Greenbar Distillery in DTLA.
17. SHAPE, a Tech + Entertainment Expo
18. Old Pasadena Summer Cinema
19. Free concert series put together by the Levitt Pavilion in McArthur Park.
20. The Barnsdall Art Park’s annual Wine Tasting Nights.
22. Metro Art at Downtown Los Angeles’ Union Station.
23. Long Beach Museum of Art’s free museum day.
Saturday July 15th, 201724. The 37th Annual Lotus Festival at Echo Park Lake
25. Summer Movie Night at Lower L.A. River in South Gate.
26. The Agenda Festival
27. The Rooftop Cinema Series returns to Pasadena advertisements
28. Shakespeare By The Sea
29. DT Stage Concert Series at Pershing Square
30. Tease, If You Please Burlesque Show at the Globe Theatre.
31. Union Station’s Summer Train Fest
32. Cocktail classes hosted by the Greenbar Distillery in DTLA.
33. Eat|See|Hear at The Autry Museum.
34. Esotouric Bus Adventures
35. Simply Stylist
36. Summer of Music at Redondo Pier
37. Old Pasadena Summer Cinema
38. Free concert series at the Levitt Pavilion in McArthur Park.
39. Street Food Cinema at King Gillette Ranch in Malibu.
40. Grand Performances
41. Movie Picnic Night at Alhambra Park
Sunday July 16th, 201742. Santa Monica’s Frozen Fruit Co
43. Shakespeare By The Sea at Saddleback College Summer Theater in Mission Viejo.
44. DTLA Breweries United Fest
45. Free concert series at the Levitt Pavilion in McArthur Park.
46. Topanga Canyon’s Theatricum Botanicum