New home sales hit a record low, with sales falling 11.2% month-over-month in January to an annual rate of 309,000 units, compared to the expectation that sales would increase 3.5% m/m to an annual rate of 354,000 units. More from Bloomberg...
The Dow Jones Industrial Average rose 92 points (0.9%) to close at 10,374, the S&P 500 Index was 11 points (1.0%) higher at 1,105, and the Nasdaq Composite gained 22 points (1.0%) to 2,236. Crude oil was $1.21 higher at $80.07 per barrel,and the Bloomberg gold spot price lost $7.00 to $1,096.40 per ounce.
Magnificent Seven Update
