The markets continue to see volatility as the retest process continues to play out. Ultimately, the markets closed down sharply, with the S&P and Dow each falling around 1.5% and the Nasdaq dropping over 3%. The S&P now sits just 49 points from October 29th’s low of 2641 as we continue to expect a retest. On Tuesday, Housing Starts for the month of October are due out.
Housing Starts Release – At 8:30 A.M. EST, Housing Starts for the month of October are due out. On an overall basis, Housing Starts are expected out at 1,255K, up from last month’s 1,201K, or a month-over-month rise of +1.6%, compared to a decline of -5.3% in September. Building Permits will also be released, with expectations for a release of 1,260K compared to September’s release of 1,241K.
Past performance is not a guarantee of future results. Index returns are unmanaged and do not include fees or expenses. All market data points and expectations are from Bloomberg as of 11/19/2018, and should not be relied upon as current thereafter.
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