Stock Market Update
07-May-26 10:25 ET
Construction spending increases in March
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[BRIEFING.COM] The Nasdaq Composite (+0.6%) is pushing further into record territory as software names rocket higher, while the S&P 500 (+0.1%), and DJIA (-0.2%) remain pressured by weakness in the broader market.
Construction spending increased 0.6% month-over-month in March (Briefing.com consensus: 0.4%) following a 0.2% decline in February. On a year-over-year basis, construction spending was up 1.6%.
The key takeaway from the report is that the strength in March was concentrated in the residential sector and particularly in new single-family construction.
