Monday, March 17, 2025
Market indexes took traders on a journey immediately, overlaying a variety of terrain from greater than -0.5% on the low finish (Nasdaq) and practically +1.5% (Russell 2000). The Trump administration has targeted on deporting immigrants immediately and away from extra bluster about tariffs, and we see the outcomes: two straight up-days.
The Dow gained +353 factors on the shut, +0.85%, whereas the S&P 500 was up a extra muted +36 factors, +0.64%. The Nasdaq recovered to +54 factors, +0.31%, whereas the small-cap Russell 2000 dominated the roost: +24 factors, +1.19%. All these indexes completed off intra-day highs, however have now swung into the inexperienced over the previous 5 buying and selling days. Over the previous month, they’re all nonetheless means down: -6%, -7%, -11% and -9%, respectively.
Homebuilder Confidence Sinks to 7-Month Low
The March learn for the North American Residence Builders (NAHB) Housing Market Index got here in decrease than anticipated: 39 versus 42 anticipated, which was additionally the print from a month in the past. Present gross sales fell -3 factors to 43, whereas gross sales expectations had been flat month over month at 47. Tariff points and labor shortages had been among the many points cited for the weaker outlook for homebuilding.
By the best way, this week brings us some key homebuilding information: Housing Begins and Constructing Permits can be out tomorrow morning. Current Residence Gross sales are scheduled for Thursday, whereas Wednesday’s report from the Fed — whereas not anticipated to maneuver from its present 4.25-4.50% Fed funds fee — might have one thing to say about housing information, both within the Fed’s assertion, in Fed Chair Jerome Powell’s press convention afterward, or each.
Enterprise Inventories In-Line with Expectations
Wanting backward a bit, this morning additionally introduced us January Enterprise Inventories. These got here in-line with expectations at +0.3%, swinging to a optimistic from the unrevised -0.2% the earlier month. Wholesale inventories shot up +0.8% (from -0.4% in December), whereas Retail got here in flat (an enchancment from flat the prior month). 12 months over 12 months, inventories are +2.3% — a reasonably benign stage general.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
