Weekly Wrap

Stocks continued their 2026 run with a strong, broad-based advance, with the S&P 500 and DJIA setting multiple record highs throughout the week. Early-week strength was driven by a sharp rotation into cyclical and economically sensitive areas, while mega-cap leadership reasserted itself selectively by week’s end.

The DJIA (+2.3%) led the major averages, buoyed by outsized gains in financials, industrials, and energy names, while the Nasdaq Composite (+1.9%) and S&P 500 (+1.6%) also advanced meaningfully. Smaller-cap stocks stood out, with the Russell 2000 (+4.6%) and S&P Mid Cap 400 (+3.3%) extending their early-year leadership as investors leaned into domestic growth exposure.

Sector performance reflected a clear pro-cyclical bias. The Consumer discretionary (+5.8%) and materials (+4.8%) sectors captured the widest gains, supported by strength in homebuilders, retailers, and metals-related names. The industrials sector (+2.5%) advanced amid renewed optimism around infrastructure and defense spending, while the energy sector (+2.1%) benefitted from volatility tied to developments in Venezuela and shifting expectations around global oil supply. In contrast, the utilities sector (-1.6%) finished as the lone declining sector, pressured by rising risk appetite and rotation away from defensive positioning.

Within technology, performance was more nuanced. The information technology sector finished flat, masking pronounced internal dispersion. Semiconductor stocks were a notable bright spot, as the PHLX Semiconductor ETF (+3.7%) significantly outperformed on renewed enthusiasm around the AI buildout, particularly in memory and chip manufacturing names. That strength contrasted with more uneven performance among mega-cap growth stocks, leaving the Vanguard Mega Cap Growth ETF (+0.9%) trailing the broader market despite late-week support from select leaders.

Several thematic groups reinforced the week’s cyclical tilt. The iShares U.S. Home Construction ETF (+9.7%) surged as economic data pointed to resilient single-family housing demand and policy developments supported mortgage markets. The iShares U.S. Aerospace & Defense ETF (+4.9%) advanced amid President Trump's call for increased military spending and geopolitical tensions, while the SPDR S&P Retail ETF (+4.9%) benefitted from improved growth sentiment and selective stock-specific catalysts.

Macro data helped shape the narrative without derailing risk appetite. The December employment report showed softer payroll growth but a lower unemployment rate, easing fears of an abrupt slowdown in consumer spending while reinforcing expectations that the Fed can remain patient on further rate cuts. Elsewhere, strong productivity data and firm services-sector activity underscored an economy that continues to grow without generating significant inflationary pressure.

All told, the first full trading week of 2026 reflected a market leaning into growth with increasing confidence. Leadership broadened meaningfully beyond mega-cap technology, small- and mid-cap stocks took the early lead, and cyclical sectors reasserted themselves as investors positioned for a firm economic backdrop. While upcoming inflation data and earnings season will test that optimism, the market enters the weeks ahead with momentum firmly intact.

• Russell 2000: +4.6%
• S&P Mid Cap 400: +3.3%
• DJIA: +2.3%
• Nasdaq Composite: +1.9%
• S&P 500: +1.6%

Monday:

Stocks advanced to start the first full trading week of 2026, with broad-based strength lifting the DJIA (+1.2%) to record highs while the S&P 500 (+0.6%) and Nasdaq Composite (+0.7%) also notched solid gains. 

Today's action featured notable outperformances across cyclical sectors, with the energy (+2.7%), financials (+2.2%), and consumer discretionary (+1.9%) sectors leading the strength. 

Energy names unsurprisingly garnered quite a bit of coverage today following the capture of Venezuelan President Nicolas Maduro over the weekend. Maduro was charged with narco-terrorism in a New York court and pleaded not guilty this afternoon. 

Oilfield services names, such as Halliburton (HAL 31.92, +2.32, +7.84%) and SLB (SLB 43.80, +3.60, +8.96%), were among the top-performing S&P 500 names today amid speculation that the U.S. could become involved in rebuilding oil production infrastructure in Venezuela. Valero Energy (VLO 180.57, +15.26, +9.23%) captured a similar gain, as CNBC reported the company is best equipped to refine the particularly sulfur-rich oil that Venezuela produces, while Chevron (CVX 163.87, +7.97, +5.11%), the only major U.S. oil producer in the country, also notched a solid gain. 

Elsewhere, the financials sector was another outperformer today, supported by strength across major banking names such as Goldman Sachs (GS 948.44, +34.10, +3.73%) and JPMorgan Chase (JPM 334.04, +8.56, +2.63%) (both Dow components). Coinbase Global (COIN 254.92, +18.39, +7.77%) captured the widest gain after Goldman Sachs upgraded the stock to Buy from Neutral, raising its price target to $303 (up from $294), with Robinhood Markets (HOOD 123.24, +8.03, +6.97%) capturing a similar gain. 

Meanwhile, the consumer discretionary sector was supported by strong leadership from Amazon (AMZN 233.06, +6.56, +2.90%) and Tesla (TSLA 451.67, +13.60, +3.10%), which were standouts across mega-cap names today. 

However, the Vanguard Mega Cap Growth ETF would advance just 0.3%, as the top-weighted information technology sector (-0.2%) was a laggard, with some of its largest components trading lower. The sector traded higher until just after midday, with losses across names such as NVIDIA (NVDA 188.12, -0.73, -0.39%), Apple (AAPL 267.26, -3.75, -1.38%), and Broadcom (AVGO 343.42, -4.20, -1.21%) pushing the sector lower. 

Despite losses across several prominent chipmakers, the industry as a whole extended Friday's strength, with the PHLX Semiconductor Index closing 1.1% higher. 

The defensive utilities (-1.2%), health care (-0.3%), and consumer staples (-0.3%) sectors underperformed amid the rotation into more cyclical holdings. 

Outside of the S&P 500, the Russell 2000 (+1.6%) and S&P Mid Cap 400 (+1.2%) largely outperformed their larger-cap counterparts.  Comcast (CMCSA 28.13, -1.41, -4.77%) spin-off Versant (VSNT 40.57, -6.08, -13.03%) was not among the smaller-cap names to trade higher, facing a sharp loss on its first day trading on the Nasdaq. 

Ultimately today's action marked a step in the right direction that has been drifting over the past few weeks. While the major averages failed to notch meaningful gains over the "Santa Claus rally" period, today saw a return to more average volume levels as investors returned from holiday. Advancers outpaced decliners by more than a 2-to-1 margin on both the NYSE and Nasdaq, and the major averages posted gains despite a modest decline in the information technology sector—suggesting leadership may be broadening, even as strong performances from select mega-cap and semiconductor names continue to fuel enthusiasm around the AI trade.

U.S. Treasuries began the first full week of January with an advance that pressured yields on longer tenors from their December highs while the 2-year yield approached its December low. The 2-year note yield settled down two basis points to 3.46%, and the 10-year note yield settled down two basis points to 4.17%. 

Reviewing today's data:

• The ISM Manufacturing Index checked in at 47.9% for December (Briefing.com consensus: 48.4%), down from 48.2% in November. The dividing line between expansion and contraction is 50.0%, so the December figure, which is the tenth straight month below 50.0%, suggests manufacturing activity contracted at a faster pace than the prior month.
  • The key takeaway from the report is that the manufacturing sector operated in a state of contraction for the tenth consecutive month, with tariffs and weaker order activity cited as key drags on overall activity.

Tuesday:

The stock market furthered its hot start to the first full trading week of the year today, with broad gains pushing the S&P 500 (+0.6%) and DJIA (+1.0%) to fresh record highs. The Nasdaq Composite (+0.7%) performed similarly to the S&P 500, while the smaller-cap Russell 2000 (+1.4%) and S&P Mid Cap 400 (+1.5%) indices outperformed. 

Today's action featured a notable AI-related catalyst in the form of another strong rally from semiconductor names. The PHLX Semiconductor Index advanced 2.8%, expanding its year-to-date gains to 8.0%. 

Memory storage names displayed particular strength after Microchip (MCHP 74.87, +7.81, +11.65%) issued a significant upward revision to its fiscal Q3 guidance, fueling a surge in the stock as the company signals a definitive end to its recent cyclical downturn. Sandisk (SNDK 349.63, +75.55, +27.56%), Western Digital (WDC 219.38, +31.50, +16.77%), Seagate Tech (STX 330.42, +40.59, +14.00%), and Micron (MU 343.48, +31.33, +10.04%) were all also among the top-performing S&P 500 names today as the demand for memory remains elevated amid the AI buildout cycle. 

NVIDIA (NVDA 187.28, -0.84, -0.45%) generated some premarket buzz following the launch of its Rubin platform, which is comprised of six new chips designed to deliver an AI supercomputer. However, the stock has struggled to distance itself from its 50-day moving average (186.76) in recent sessions, which limited the gains of the information technology sector (+0.7%). 

NVIDIA also announced an expansion into the autonomous driving sector with its open-source Alpamayo platform and partnerships with Visteon (VC 103.62, +4.63, +4.68%) and Hesai Group (HSAI 26.80, +2.55, +10.52%), which integrate high-performance lidar and cockpit systems into a unified "Rubin" AI platform that rivals Tesla's (TSLA 432.96, -18.71, -4.14%) Full Self-Driving (FSD) stack.

Tesla moved sharply lower in response, though another day of solid leadership from Amazon (AMZN 240.91, +7.85, +3.37%) and relative strength across cyclical names helped the consumer discretionary sector (+0.9%) notch a solid gain. 

Rideshare platforms, on the other hand, rallied at the news, which could help accelerate the global shift toward driverless fleets. Uber (UBER 85.54, +4.80, +5.95%) was one of the top-performing names in the industrials sector (+1.4%), which has put together two solid performances to start the week. 

The materials sector (+2.0%) would go on to notch the widest gain, additionally supported by metals prices rallying towards recent record high levels. 

The health care sector (+2.0%) finished similarly, as the sector saw broad-based strength after navigating a narrow range over the past three weeks.  Moderna (MRNA 35.66, +3.49, +10.85%) notched a double-digit gain after announcing it submitted its seasonal flu vaccine for regulatory approval. 

Meanwhile, only the energy (-2.8%) and communication services (-0.5%) sectors finished lower. The communication services sector faced weak leadership from Alphabet (GOOG 314.55, -2.77, -0.87%), while the energy sector saw several names that outperformed in response to developments in Venezuela give back some of yesterday's strength.  Chevron (CVX 156.58, -7.27, -4.44%), which is the only major oil company operating in the country, was the sector's worst performer.  Reuters reported this afternoon that Venezuela is in discussions to export oil to the U.S.

Ultimately, today's action reflected a market entering the new year with clear growth aspirations. Broad leadership across cyclical sectors reinforced confidence in the economic outlook, while outsized gains among memory storage names kept enthusiasm around the AI buildout firmly intact. Even with semiconductors providing a notable catalyst, the Vanguard Mega Cap Growth ETF (+0.3%) logged only a modest advance, suggesting that leadership is beginning to broaden beyond the largest growth names as the major averages continue to chart record highs. 

U.S. Treasuries dipped on Tuesday, giving back some of their gains from Monday. The 2-year note yield settled up two basis points to 3.48%, and the 10-year note yield settled up one basis point to 4.18%. 

Reviewing today's data:

• The S&P Global U.S. Services PMI hit 52.5 in the final reading for December, down from the flash reading (52.9) and down from the final November reading (54.1).

Wednesday:

After two strong sessions to start the week, the major averages finished mostly lower in the midweek session as the recent rally in cyclical stocks took a step back. A solid showing from the mega-caps, which have been muted in recent sessions, helped the Nasdaq Composite (+0.2%) outperform and the S&P 500 (-0.3%) notch a record intraday high before retreating. Weakness across the broader market saw the DJIA (-0.9%) underperform. 

The industrials sector (-1.9%) was the worst-performing cyclical sector today. Notably, President Trump said via Truth Social, "I will not permit dividends or stock buybacks for defense companies until such time as these problems are rectified," citing executive pay and slow production of military equipment as the problems. Aerospace and defense names lagged as a result, sending the iShares DJ Aerospace 1.7% lower. 

The materials sector (-1.6%) faced a similar loss as precious metals prices fell, while the energy sector (-1.2%) faced pressure as crude oil futures settled today's session $1.14 lower (-2.0%) at $55.99 per barrel.

President Trump announced that Venezuela will immediately begin providing the U.S. with 30-50 million barrels of oil, which helped some refiner names, such as Valero Energy (VLO 183.86, +5.59, +3.14%), still notch nice gains. 

Elsewhere, the financials sector (-1.4%) saw some selling pressure in major banking names ahead of a busy week of earnings reports next week. 

Despite the relatively broad weakness that saw eight S&P 500 sectors finish lower, losses at the index level were somewhat mitigated by several strong mega-cap performances. The communication services (+0.8%) and information technology (+0.1%) sectors both finished well off of session highs, though Alphabet (GOOG 322.48, +7.93, +2.52%), Microsoft (MSFT 483.49, +4.98, +1.04%), and NVIDIA (NVDA 189.18, +1.94, +1.03%) helped keep the sectors in positive territory. 

The information technology sector in particular faced mounting pressure as chipmakers gave back yesterday's advance, sending the PHLX Semiconductor Index 1.0% lower.

Afternoon selling pressure did significantly lessen gains across the mega-caps, with the Vanguard Mega Cap Growth ETF (+0.5%) finishing with under half of its earlier gain. Still, the market's weightiest components helped limit losses in the market-weighted S&P 500 (-0.3%), which decidedly outperformed the S&P 500 Equal Weighted Index (-1.2%). 

Elsewhere, the health care sector (+1.0%) captured the widest gain today. Eli Lilly (LLY 1108.14, +44.10, +4.14%) was a top performer after The Wall Street Journal reported the company is in talks to acquire Ventyx Biosciences (VTYX 13.73, +3.68, +36.62%), while AbbVie (ABBV 233.43, +9.50, +4.24%) captured a similar gain, with The Wall Street Journal reporting the company looks to acquire Revolution Medicines (RVMD 102.71, +22.86, +28.63%). 

Outside of the S&P 500, the Russell 2000 (-0.3%) and S&P Mid Cap 400 (-0.8%) gave back a chunk of yesterday's advance. 

Today's session reflected some back-and-forth action as the market navigates the stretch between the holidays and earnings season. The cyclical rally faced a speed bump, but mega-cap leadership helped keep the major averages with solid week-to-date gains, and the S&P 500 near its own record high from earlier in the session. 

U.S. Treasuries had a resilient showing on Wednesday, as longer tenors sustained their early gains in the face of some early pressure while the short end lagged, but still finished in the green. The 2-year note yield settled down one basis point to 3.47%, and the 10-year note yield settled down four basis points to 4.14%.

Reviewing today's data:

• Weekly MBA Mortgage Applications Index -9.7%; Prior -5.0%
• December ADP Employment Change 41K (Briefing.com consensus 45K); Prior was revised to -29K from -32K
• December ISM Non-Manufacturing Index 54.4% (Briefing.com consensus 52.2%); Prior 52.6%
  • The key takeaway from the report is that activity in the services sector accelerated in December to its best level for 2025, accented by the first expansion reading for the employment index since May 2025.
• October Factory Orders -1.3% (Briefing.com consensus -1.0%); Prior 0.2%
  • The key takeaway from the dated report is that it was better than the headline suggests thanks to a pickup in business spending that was reflected in the increase in new orders for nondefense capital goods excluding aircraft.
• November JOLTS - Job Openings 7.146 mln; Prior was revised to 7.449 mln from 7.670 mln

Thursday:

The S&P 500 (flat), Nasdaq Composite (-0.5%), and DJIA (+0.6%) finished mixed today as broad gains were dampened at the index level by a sharp retreat in tech. 

Nine S&P 500 sectors captured gains, with a strong rotation into cyclical sectors once again evident in today's trade. 

The energy sector (+3.2%) captured the widest gain as oil prices surged higher today, rebounding from recent slides in response to developments in Venezuela. Crude oil futures settled today's session $1.76 higher (+3.1%) at $57.75 per barrel.

The consumer discretionary sector (+1.7%) was another top performer, with a majority of its components trading higher. This morning's batch of economic data painted a solid growth picture of the economy, sending homebuilder names surging. Solid gains across names such as Lennar (LEN 109.55, +5.62, +5.41%) and D.R. Horton (DHI 145.90, +6.59, +4.73%) sent the iShares U.S. Home Construction ETF 4.2% higher. 

The sector also benefitted from solid mega-cap leadership from Amazon (AMZN 246.29, +4.73, +1.96%) and Tesla (TSLA 435.80, +4.40, +1.02%).

With that being said, one might find it surprising that the Vanguard Mega Cap Growth ETF (-0.8%) actually faced a considerable retreat today. However, the weakness was almost entirely confined to the information technology sector (-1.5%), with NVIDIA (NVDA 185.00, -4.11, -2.17%) today's "magnificent seven" laggard. 

The PHLX Semiconductor Index (-1.8%) faced its second consecutive day of losses after a strong start to the week, with memory storage names such as Sandisk (SNDK 334.54, -19.02, -5.38%) and Western Digital (WDC 187.68, -12.20, -6.10%) among the worst performers. 

The health care sector (-0.9%) was the only other S&P 500 sector to finish with a loss, once again facing pressure in pharmaceutical and biotech names. 

Meanwhile, the consumer staples sector (+2.3%) finally saw some action after a negative start to the year.  Constellation Brands (STZ 147.98, +7.49, +5.33%) captured the widest gain after beating top-and-bottom-line expectations, while Costco (COST 915.31, +32.73, +3.71%) traded nicely higher after reporting strong December adjusted comparable sales growth of 6.2%. 

Defense names also captured solid gains in today's action, with Huntington Ingalls (HII 378.30, +21.85, +6.13%) and L3Harris (LHX 325.81, +16.05, +5.18%) among the outperformers in the industrials (+0.7%) sector. The move came after President Trump called for a 66% increase in the military budget to $1.5 trillion in 2027. 

Outside of the S&P 500, the Russell 2000 (+1.1%) and S&P Mid Cap 400 (+0.4%) returned to the winners' circle after a retreat yesterday, padding their year-to-date gains that give them an early lead over the major averages. 

All told, today's action reflected a broadening of leadership as early indicators point to a strong economy in 2026, with cyclical and small-cap stocks poised to benefit. Attention now turns to a busy Friday of economic data that includes the December Employment Situation Report, along with an expected ruling from the Supreme Court on the legality of President Trump's sweeping IEEPA tariffs.

U.S. Treasuries retreated on Thursday, giving back their midweek gains, with the 10-year note leading the way. The 2-year note yield settled up two basis points to 3.49%, and the 10-year note yield settled up five basis points to 4.18%. 

Reviewing today's data:

• Weekly Initial Claims 208K (Briefing.com consensus 217K); Prior was revised to 200K from 199K, Weekly Continuing Claims 1.914 mln; Prior was revised to 1.858 mln from 1.866 mln
  • The key takeaway from the report is that initial claims are quite low to support a view that consumer spending should hold up; however, continuing claims remain high enough to support a view that the Fed will worry enough about a softening in the labor market (i.e., weak hiring activity) such that it remains inclined to pursue easier monetary policy.
• Q3 Productivity-Prel 4.9% (Briefing.com consensus 2.5%); Prior was revised to 4.1% from 3.3%, Q3 Unit Labor Costs-Prel -1.9% (Briefing.com consensus 0.8%); Prior was revised to -2.9% from 1.0%
  • The key takeaway from the report is that it is the golden ticket for the economy (and the Fed, per chance), as it reflects strong growth without labor cost inflation.
• October Trade Balance -$29.4 bln (Briefing.com consensus -$61.3 bln); Prior was revised to -$48.1 bln from -$59.6 bln
  • The key takeaway from the report is that the headline deficit number is the lowest since June 2009. A residual takeaway is that the improvement clearly has something to do with the introduction of higher tariff rates that have detracted from import demand.
• October Wholesale Inventories 0.2% (Briefing.com consensus 0.2%); Prior 0.5%
• Consumer credit increased by $4.2 billion in November (Briefing.com consensus: $10.3 billion) following an unrevised $9.2 billion increase in October.

Friday:

The stock market ended the first full trading week of 2026 on a high note, with the S&P 500 (+0.7%) once again capturing record highs. Broad-based gains saw the Nasdaq Composite (+0.8%) and DJIA (+0.5%) notch similar gains, with the Dow capturing a record closing high of its own. 

Stocks had a somewhat muted opening as investors digested a heavy batch of economic data. The December Employment Situation report (50,000; Briefing.com consensus 55,000) showed slightly weaker-than-expected growth in payrolls, while the unemployment rate dipped to 4.4% from 4.5% and average hourly earnings growth accelerated to 3.8% from 3.6%. The report pushed back the market's expectation of the next rate cut from April to June but painted a solid enough picture of the labor market to quell fears of a downturn in consumer spending and the economy. 

With all recent indicators pointing to a strong 2026 economy, stocks advanced in broad fashion, similar to Monday and Tuesday's sessions. Nine S&P 500 sectors captured gains, with several sector-specific developments acting as catalysts.

In the case of the top-weighted information technology sector (+1.0%), support came from a strong rebound in chipmaker names after yesterday's pullback. The PHLX Semiconductor Index finished 2.7% higher. Sandisk (SNDK 377.41, +42.87, +12.81%) was the sector's top performer after Tom's Hardware reported the company plans a sharp increase in enterprise SSD pricing in early 2026 as AI demand grows. Intel (INTC 45.55, +4.44, +10.80%) also captured a double-digit gain after President Trump touted a great meeting with CEO Lip-Bu Tan yesterday evening. 

The consumer discretionary sector (+1.1%) also had an eventful session, with homebuilder names such as Lennar (LEN 119.25, +9.70, +8.85%) and D.R. Horton (DHI 157.28, +11.38, +7.80%) leading the advance. President Trump ordered Fannie Mae (FNMA 11.01, +0.16, +1.47%) and Freddie Mac (FMCC 10.08, -0.06, -0.59%) to purchase $200 billion in mortgage bonds, reinforcing expectations for increased mortgage-market support. Additionally, the October Housing Starts report (-4.6%) showed single-unit starts up 5.4% month-over-month and at their highest level since July.

The iShares U.S. Home Construction ETF finished 6.3% higher.

Elsewhere in the sector, many retail names such as lululemon athletica (LULU 203.90, -8.27, -3.90%) traded lower today on disappointment that the US Supreme Court did not issue a decision on the legality of President Trump's IEEPA tariffs today, as many hoped it would. The next decision day for the Supreme Court at which a ruling could be announced is next Wednesday. 

Other outperformers include the materials sector (+1.8%), which was supported by a rally in precious metals prices, and the utilities sector (+1.2%), which saw its electric companies boosted after Vistra Corp. (VST 166.40, +15.80, +10.49%) and Meta Platforms (META 653.06, +7.00, +1.08%) entered a power purchase agreement. 

Only the health care sector (-0.6%) and the financials sector (-0.4%), which will see many of its major banking names report earnings next week, finished lower. 

Outside of the S&P 500, the Russell 2000 (+0.8%) and S&P Mid Cap 400 (+0.9%) slightly outperformed their larger-cap counterparts, a trend that has held over the first two weeks of trading this year.

The market is off to a strong start in 2026, with broadening strength driving the major averages to record highs. While next week's inflation data and a pickup in earnings reports will test that momentum, the broader macro backdrop continues to point to an economy supportive of further market growth.

U.S. Treasuries had a mixed finish to the week, with longer tenors showing relative strength while the 2-year note lagged after a December jobs report that was good enough to call the market's rate cut expectations into question. The 2-year note yield settled up five basis points to 3.54% (+6 basis points this week), and the 10-year note yield settled down one basis point to 4.17% (-2 basis points this week). 

Reviewing today's data:

• December Nonfarm Payrolls 50K (Briefing.com consensus 55K); Prior was revised to 56K from 64K, December Nonfarm Private Payrolls 37K (Briefing.com consensus 50K); Prior was revised to 50K from 69K, December Unemployment Rate 4.4% (Briefing.com consensus 4.5%); Prior was revised to 4.5% from 4.6%, December Average Hourly Earnings 0.3% (Briefing.com consensus 0.3%); Prior was revised to 0.2% from 0.1%, December Average Workweek 34.2 (Briefing.com consensus 34.3); Prior 34.3
  • Granted, the employment situation could be better, but the key takeaway is that the low unemployment rate will temper concerns that consumer spending and the economy will slow rapidly due to a weak labor market. It will also likely keep the Fed's next rate cut at bay.
• September Housing Starts 1.306 mln (Briefing.com consensus 1.320 mln); Prior was revised to 1.291 mln from 1.307 mln, September Building Permits 1.415 mln (Briefing.com consensus 1.340 mln); Prior was revised to 1.330 mln from 1.312 mln
• October Housing Starts 1.246 mln (Briefing.com consensus 1.340 mln); Prior 1.306 mln, October Building Permits 1.412 mln (Briefing.com consensus 1.355 mln); Prior 1.415 mln
  • The key takeaway from the report is that the weakness in starts was driven entirely by multi-family units. Single-unit starts were up 5.4% month-over-month and at their highest level since July.
• January Univ. of Michigan Consumer Sentiment - Prelim 54.0 (Briefing.com consensus 53.0); Prior 52.9
  • The key takeaway from the report is that consumer sentiment, while improved a bit, is still guarded due to lingering concerns about high prices and softening labor markets.