Greenway's Markets in a Minute I See What's Going Up & What's Coming Down
Retail sales fell more than expected in February, probably due to the bitterly cold weather across the country. A rebound is considered likely next month. |
The Fed kept policy rates unchanged this week, stating that current monetary policy is appropriate and there's no reason to push back against the recent Treasury yield surge. |
Jobless claims rose unexpectedly last week to 770,000, the highest number since mid-February, as the labor market recovers in fits and starts. |
Homebuilder confidence in the single-family housing market fell in March. Builders continue to face rising mortgage rates and rising costs for materials, especially lumber. |
Housing starts fell 10.3% to a 6-month low during February's cold weather. It was likely a temporary setback for a housing market with lean inventory and strong demand. |
Mortgage applications continued to fall as rates climbed, down 2.2% last week. However, purchase applications were still 5% higher than the same week a year ago. |