Housing Starts at 13-Year High

The stock market will be closed on Monday in honor of Dr. Martin Luther King’s birthday. It will be interesting to see how many traders will want to be net long going into a three-day weekend.

This morning’s housing starts report showed an increase of 16.9% last month. Housing starts are now at a 13-year high. That’s good news for a stock like Trex (TREX) which is at another new high today.

The Federal Reserve said that industrial production fell 0.3% in December. Part of the reason why is that utilities dropped by 5.6% due to unseasonably warm weather.

China said its economy grew by 6.1% last year. That would be great for the U.S. but for China, it’s actually the slowest rate in 29 years.

Posted by on January 17th, 2020 at 12:31 pm


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