The major indices are trading up as we wait for any signs of a stimulus deal from House Speaker Nancy Pelosi and Treasury Secretary Mnuchin, who are once again scheduled to speak at 3 ET. Investors seem to think a deal could actually happen.

FAANG stocks are back in vogue despite the U.S. Justice Department filing an anti-trust suit against Google. Netflix is the lone stock in that group that is down in today’s session.

All 11 S&P sectors are in the green, with cyclically oriented sectors outperforming.

Housing

Starts in the U.S. were up 1.9% in September to 1.415 million units, but it was down form August’s revised 1.338 million and fell short of the 1.457 million estimates.  Single family was a real winner though, up 8.5% to 1.108 million, as more people seek out the suburbs and give up their apartments and condos.  Multi-family dropped 16.3% to 307,000. 

Starts

·Northeast +66.7 percent to 145,000

·South +6.2% to 755,000

·West +1.4 percent to 350,000

·Midwest -32.7 percent to 165,000

Total building permits also took off, up 5.2% from August to 1.533 million.