SURPRISE JUMP IN HOUSING STARTS IGNITES WALL STREET RALLY.
That’s the headlines from Yahoo News I was just handed 15 minutes ago. Stocks surged today as an unexpected leap in housing starts pushed Home Depot and other retailers higher.
“Investors are starting to get a sense that things are stabilizing. They’re not getting any worse,” said Terry Morris, a portfolio manager with National Penn Investors Trust Company in Reading, Pennsylvania.
DOW UP ALMOST 5 PERCENT FOR MARCH
The blue-chip dow average is now up 4.7 percent for the month but remains down 15.7 percent for the year to date.
The Dow Jones home construction index (.DJUSHB) rose 6.3 percent after data showed housing starts jumped 22.2 percent in February, the biggest percentage rise since January 1990, also the first increase since last April.
This will give the evening news media somthing GOOD to talk about.
