Stocks appear on track to reverse Monday's losses that were
concentrated in a few high profile pockets, particularly the
The housing and consumer confidence data coming out a little
may shift the market's trajectory, but the odds are high that
U.S. stocks will follow the positive action in Europe. Stocks in
Europe are set to finish higher despite a modestly weaker than
expected German business confidence survey and weak markets in
On the data front, we will get the Case-Shiller home-price gauge
for January and the February New home Sales numbers a little
later. The Case-Shiller isn't expected to be a market mover and
expectations for new home sales remains muted due to the
all-familiar weather related issue. The housing sector did very
well in 2013, with prices and new home sales up in double-digits.
The new year has gotten off to a slow start, but that loss of
momentum is getting chalked up to the unusually lousy weather.
The hope is that the sector will get its spring back as the
The broad stocks market indexes have been all over the place in
the first quarter of 2014, but don't have much to show for all
that volatility. The sell-off in the last few sessions in
the more hotter segments of the market appear to be reflective of
some nervousness, but overall sentiment still remains positive
and the bias remains to the upside.
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