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 |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
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