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Your vocabulary word for the day is “boing.” Definition: The sound the stock market makes when it’s bouncing.
Early indications from the futures market this morning suggest stocks may end the week on a high note as investors continue to be in buy-the-dip mode. But there’s still a ways to go if the market hopes to erase the steep losses from earlier in the week.
This seems to be another page in the narrative we’ve been seeing for a while where investors are trying to figure out valuations based on two main fronts. The first is a continued tug of war between reopening stocks and those that could benefit if something happens to derail the domestic COVID-19 recovery. The second is whether a spike in inflation will be a long-term thing or just temporary (or “transitory” in Fed-speak).
US: Home Construction in March Leapfrogs to Fastest Pace Since 2006
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March U S Home Construction Jumps To Fastest Pace Since 2006
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Apr 17, 2021
WASHINGTON (AP) U.S. housing construction rebounded strongly in March to the fastest pace since 2006 as home builders recovered from an unusually frigid February that shut down projects.
Builders began construction on new homes and apartments at a seasonally adjusted annual rate of 1.74 million units in March, the Commerce Department reported Friday, a 19.4% increase over February when housing construction fell by 11.3%. It was the fastest pace for home building since a level of 1.8 million in June 2006 during the last housing boom.
Severe storms raked several regions of the country in February, setting construction back.
According to the report, applications for building permits, a good sign of future activity, increased by 2.7% to a seasonally adjusted annual rate of 1.77 million units.
Housing construction jumps 19 4% in March | Business
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