Headlines discussed at LNWM’s Monday morning briefing:
— US homebuilding in March hit a 15-year-high — 1.7 million new units — highest since June 2006, with existing houses for sale are at record lows.
— US consumer prices rose 0.6% in March vs. Feb., more than expected, mostly due to higher gas and food prices.
— US retail sales hit a record high in March, up 17% higher than pre-pandemic levels, after dropping 3% in Feb.
— China’s GDP for 1st quarter 2021 rose only 0.6% vs. previous quarter, among the decade’s smallest rise; but GDP was up 18% from same time last year when Covid-19 was raging.
— S&P 500 earnings are forecast to rise 30% for Q1 2021 (led by financials) and 54% for Q2 2021, vs. same quarters of 2020.
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