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Economic Update - Ceiling Hopes & Housing Starts
Stocks are higher today as the market gains hope for a debt ceiling deal. House Speaker Kevin McCarthy said he was hopeful a deal could be reached by the end of the week & he believed that there would be no default. The threat of a default had weighed down stocks so far this month, with $DIA down over 3% on the month.
For economic data today, housing starts rose 2.2% in April to an annual rate of 1.40 million. Single-family starts increased 1.6% to an annual rate of 846,000. Building permits fell 1.5% to an annual rate of 1.42 million due to a significant decline in multifamily permits.
For economic data today, housing starts rose 2.2% in April to an annual rate of 1.40 million. Single-family starts increased 1.6% to an annual rate of 846,000. Building permits fell 1.5% to an annual rate of 1.42 million due to a significant decline in multifamily permits.
Stocks are higher today as the market gains hope for a debt ceiling deal. House Speaker Kevin McCarthy said he was hopeful a deal could be reached by the end of the week & he believed that there would be no default. The threat of a default had weighed down stocks so far this month, with $DIA down over 3% on the month.
For economic data today, housing starts rose 2.2% in April to an annual rate of 1.40 million. Single-family starts increased 1.6% to an annual rate of 846,000. Building permits fell 1.5% to an annual rate of 1.42 million due to a significant decline in multifamily permits. $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$
For economic data today, housing starts rose 2.2% in April to an annual rate of 1.40 million. Single-family starts increased 1.6% to an annual rate of 846,000. Building permits fell 1.5% to an annual rate of 1.42 million due to a significant decline in multifamily permits. $SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $S&P 500 Index (.SPX.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$
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