Stocks rallied again yesterday hitting new record highs. Here we are some 6 years after the financial crisis, with stocks at record levels, and central banks are still working their magic. You might not like what's going on, but there has been no money made fighting it.
Stocks are set to open a little lower and here is what I am reading this morning:
U.S. housing starts fell 2.8% to 1,009,000 million in October from a revised 1,038,000 million in September (was 1,017,000 million) and August's 0.963,000 million (revised from 0.957,000 million). Building permits increased 4.8% to 1,080,000 million versus September's 1,031,000 million (revised from 1,018,000 million). Weakness in starts was in the multi-family sector which declined 15.4%. Single family starts increased 4.2%. Housing completions declined 8.8%.