Stocks mostly declined, limiting weekly gains, after an index of consumer confidence unexpectedly fell to 74.3 in March, its first decline since August. Also, consumer prices rose 0.4% less than 0.5% increase expected. Core prices that remove volatile food and energy costs rose 0.1% versus expectations of a 0.2% uptick. Output of U.S. factories, mines and utilities held flat in February, while January production was revised up to 0.4% from an initial estimate of unchanged. Tech stocks finished with mixed results, with Apple closing just a penny higher on the day the co. released its latest version of the iPad. This week housing data will take center stage as several economic reports on housing prices, sales and construction are due out. Any signs that the real estate market is rebounding could keep the stock market rally going. Implied volatility fell to the 15 level on moderate trading volumes.
Monday, March 19, 2012
All eyes on housing data
Stocks mostly declined, limiting weekly gains, after an index of consumer confidence unexpectedly fell to 74.3 in March, its first decline since August. Also, consumer prices rose 0.4% less than 0.5% increase expected. Core prices that remove volatile food and energy costs rose 0.1% versus expectations of a 0.2% uptick. Output of U.S. factories, mines and utilities held flat in February, while January production was revised up to 0.4% from an initial estimate of unchanged. Tech stocks finished with mixed results, with Apple closing just a penny higher on the day the co. released its latest version of the iPad. This week housing data will take center stage as several economic reports on housing prices, sales and construction are due out. Any signs that the real estate market is rebounding could keep the stock market rally going. Implied volatility fell to the 15 level on moderate trading volumes.
