Homebuilder sentiment edged slightly lower in April though it remains well into positive territory. The National Association of Home Builders (NAHB) reports that its Housing Market Index came in at 69 in April, down from 70 in may and just below the 70 expected. Within the report it showed that the current single-family home sales index fell to 75 from 77. “Ongoing employment gains, rising wages and favorable demographics should spur demand for single-family homes in the months ahead,” explaines NAHB Chief Economist Robert Dietz.
After three straight months of declines, retailers across the nation reported that consumers spent their hard-earned dollars in March. Leading the boost was spending on automobiles and health and personal care items. Retail Sales rose 0.6 percent in March, above the 0.4 percent expected and up from the decline of 0.1 percent in February. Consumer spending makes up two-thirds of U.S. economic activity and is crucial to a healthy economy. The Retail Sales report is a measure of the total receipts of retail stores from samples representing all sizes and kinds of business in retail trade throughout the nation.
U.S. Stocks are rising to begin the week as investors feel that any post-strike fallout from the missile attack on Syria from the U.S., U.K. and France over the weekend will be minor. In addition, Bank of America reported solid earnings after JPMorgan Chase, Citigroup and Wells Fargo reported better-then-expected results on Friday. In addition, New York Fed President Bill Dudley said this morning that Stock market valuations don’t look overvalued, which is helping to support higher prices.