Housing starts and building permits came in lower than expected. Starts in March fell 10.8% to an annual rate of 510,000, below the estimate of 540,000. Building permits also came in lighter than expected as the more forward-looking indicator declined 9% to an annual rate of 513,000, below the forecast of 549,000.
The Philly Fed’s Business Activity Index improved in April from -35.0 in March to -24.4, and above the consensus of -32.0. New orders improved to -24.3 from -40.7 and employment improved. Prices received fell from -32.6 to -41.4 and prices paid came in nearly unchanged at -31.5.
The Dow Jones Industrial Average rose 96 points (1.2%) to close at 8,125, the S&P 500 Index gained 13 points (1.6%) to 865, and the Nasdaq Composite advanced 44 points (2.7%) to 1,670. Crude oil gained $1.27 to $53.06 per barrel, and gold fell $16.70 to $874.35 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
