Afternoon Note
The market is surging in part to panic, or as the younger generation says, ‘fear of missing out’ or FOMO. Of course, it’s one thing to not be as hip as everyone else and another for a professional to miss this rally. The Dow is up 150 points taking it over the 23000 mark (23144). The NASDAQ and S&P are also in the green, 6621 and 2563, respectively. Advancers led decliners 1485/1362 on the NYSE and 1672/1094 on the NASDAQ.
The only negative was the headline from housing starts and permits. Even there, I see positives, and it’s not just adjusting for the impact of those hurricanes. Single family home starts and permits are higher from a year ago- I think this is critical for the longer term health of the economy.
Housing Starts |
Total |
Single |
Co-ops |
Sep 2017 |
1,127,000 |
829,000 |
286,000 |
Aug 2017 |
1,183,000 -4.5% |
869,000 -4.6% |
305,000 -6.2% |
Sep 2016 |
1,062,000 +6.1% |
783,000 +5.9% |
265,000 +7.9% |
Housing Permits |
Total |
Single |
Co-ops |
Sep 2017 |
1,215,000 |
819,000 |
360,000 |
Aug 2017 |
1,272,000 -4.5% |
800,000 +2.4% |
436,000 -17.4% |
Sep 2016 |
1,270,000 -4.3% |
749,000 +9.3% |
482,000 -25.3% |
Tweet |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
4/2/2024 1:16 PM | Under Pressure |
4/2/2024 9:49 AM | HIGHER PRICES & JOBS LOSS – “NO” ON FED BINGO CARD |
4/1/2024 10:00 AM | OF COURSE, HE CAN WAIT…THE DATA STILL NOT ADDING UP |
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