The Commerce Department reported that housing starts dropped 3.7% to an annual rate of 1.187 million units, while building permits, which are a proxy on future starts, dropped 1.5%. More from Bloomberg...
The Dow Jones Industrial Average gained 65 points (0.5%) to close at 13,232, the S&P 500 Index rose 9 points (0.6%) to 1,455, and the Nasdaq Composite advanced 22 points (0.8%) to 2,596. Crude oil finished down $0.14 to $90.49 per barrel, and gold ended $7.40 higher at $802.20 per ounce.
Magnificent Seven Update
