Homebuilders Active Amid Slump in New Starts as Traders Look Ahead to Spring (XHB) Apr 16, 2014 11:49AM

SPDR S&P Homebuilders ETF (NYSE: XHB) and names like Home Depot (NYSE: HD) and Lowe's (NYSE: LOW) are up following what would appear to negative housing data.

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2014:

BUILDING PERMITS

Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 990,000. This is 2.4 percent (±1.0%) below the revised February rate of 1,014,000, but is 11.2 percent (±1.1%) above the March 2013 estimate of 890,000. Single-family authorizations in March were at a rate of 592,000; this is 0.5 percent (±1.0%)* above the revised February figure of 589,000. Authorizations of units in buildings with five units or more were at a rate of 370,000 in March.

*** The Street was looking for a gain to 1.003 million.

HOUSING STARTS

Privately-owned housing starts in March were at a seasonally adjusted annual rate of 946,000. This is 2.8 percent (±14.7%)* above the revised February estimate of 920,000, but is 5.9 percent (±8.4%)* below the March 2013 rate of 1,005,000. Single-family housing starts in March were at a rate of 635,000; this is 6.0 percent (±15.5%)* above the revised February figure of 599,000. The March rate for units in buildings with five units or more was 292,000.

*** Consensus estimates expected a reading of 955,000.

HOUSING COMPLETIONS

Privately-owned housing completions in March were at a seasonally adjusted annual rate of 872,000. This is 0.2 percent (±13.2%)* below the revised February estimate of 874,000, but is 7.7 percent (±14.3%)* above the March 2013 rate of 810,000. Single-family housing completions in March were at a rate of 602,000; this is 3.8 percent (±12.6%)* below the revised February rate of 626,000. The March rate for units in buildings with five units or more was 258,000.

New housing starts may have been stifled by near record-cold temps last month in some parts of the country. The year-over-year gain in building permits, however, suggests that construction demand is still in place.

Below is the Census Bureau release with data tables on last month's numbers:


UPDATE: Crude Inventory 10M Barrels vs 1.2M Expected Apr 16, 2014 10:34AM

(Updated - April 16, 2014 10:34 AM EDT)

Crude Inventory for the week ending April 11 increased 10 million barrels vs an increase of 1.2 million expected.

Gasoline inventory declined 154 thousand barrels vs a decline of 1.56 million expected.

Distillate inventory declined 1.28 million barrels vs a gain of 30 thousand expected.

Cushing inventory declined 771 thousand barrels.


UPDATE: Crude Inventory 10M Barrels vs 1.2M Expected Apr 16, 2014 10:34AM

(Updated - April 16, 2014 10:34 AM EDT)

Crude Inventory for the week ending April 11 increased 10 million barrels vs an increase of 1.2 million expected.

Gasoline inventory declined 154 thousand barrels vs a decline of 1.56 million expected.

Distillate inventory declined 1.28 million barrels vs a gain of 30 thousand expected.

Cushing inventory declined 771 thousand barrels.


March MoM Industrial Production 0.7% vs 0.5% Expected Apr 16, 2014 09:15AM

March MoM Industrial Production 0.7% vs 0.5% Expected


March Housing Starts 946k vs 970k Expected, Up 2.8% vs 7% Expected Apr 16, 2014 08:30AM

March Housing Starts 946k vs 970k Expected, Up 2.8% vs 7% Expected


More Economic Data

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Apr 16, 2014 07:00AM MBA Mortgage Applications 4.3% vs -1.6% Prior
Apr 15, 2014 10:00AM NAHB Housing Market Index 47 vs 49 Expected
Apr 15, 2014 09:00AM Feb. Net Long-Term TIC Flows $85.7B vs $30B Expected
Apr 15, 2014 08:31AM March CPI 0.2% MoM vs 0.1% Expected, Ex-Food & Energy 0.2% vs 0.1%
Apr 15, 2014 08:30AM Empire State Manf. 1.29 vs 8 Expected
Apr 14, 2014 10:00AM Feb. Business Inventory 0.4% vs 0.5% Expected
Apr 14, 2014 08:30AM March MoM Advance Retail Sales 1.1% vs 0.9% Expected
Apr 11, 2014 09:55AM April-P University of Michigan Confidence 82.6 vs 81 Expected
Apr 11, 2014 08:36AM March PPI 0.5% vs 0.1% Expected, Ex-Food & Energy 0.6% vs 0.2%
Apr 11, 2014 08:36AM March PPI 0.5% vs 0.1% Expected, Ex-Food & Energy 0.6% vs 0.2%
Apr 10, 2014 02:01PM March Monthly Budget Statement -$36.9B vs -$36B Expected
Apr 10, 2014 10:30AM Natural Gas Inventory 4 bcf vs 15 bcf Expected
Apr 10, 2014 08:35AM Initial Jobless Claims 300k vs 320k Expected
Apr 10, 2014 08:30AM March Price Index 0.6% vs 0.2% Expected
Apr 10, 2014 08:35AM Initial Jobless Claims 300k vs 320k Expected
Apr 9, 2014 10:33AM UPDATE: Crude Inventory 4M Barrels vs 970K Expected
Apr 9, 2014 10:33AM UPDATE: Crude Inventory 4M Barrels vs 970K Expected
Apr 9, 2014 10:00AM Feb. Wholesale Inventories 0.5% vs 0.5% Expected
Apr 9, 2014 07:00AM MBA Mortgage Applications -1.6% vs -1.2% Prior
Apr 7, 2014 03:00PM Feb. Consumer Credit $16.5B vs $14B Expected
Apr 4, 2014 08:35AM March Nonfarm Payrolls 192k vs 200k; Unemployment 6.7% vs 6.6%
Apr 4, 2014 08:35AM March Nonfarm Payrolls 192k vs 200k; Unemployment 6.7% vs 6.6%
Apr 3, 2014 10:07AM ISM Services Index Rose to 53.1% in March; Lower Business Activty Pressured Results
Apr 3, 2014 10:01AM March ISM Non-Manf. 53.1 vs 53.5 Expected
Apr 3, 2014 09:10AM Initial Claims Rose 16K Last Week, Coming in Below Expectations
Apr 3, 2014 08:30AM Feb. Trade Balance -$42.3B vs -$38.5B Expected
Apr 3, 2014 08:30AM Initial Jobless Claims 326k vs 319k Expected
Apr 2, 2014 10:34AM UPDATE: Crude Inventory -2.4M Barrels vs 1.4M Expected
Apr 2, 2014 10:00AM Feb. Factory Orders 1.6% vs 1.2% Expected
Apr 2, 2014 08:15AM March ADP 191k vs 195k Expected
Apr 2, 2014 07:00AM MBA Mortgage Applications -1.2% vs -3.5% Prior
Apr 1, 2014 11:14AM ISM Manufacturing Index Rose to 53.7% in March, But Missed Expectations Amid Strong New Orders, Production
Apr 1, 2014 10:00AM Feb. Construction Spending 0.1% vs Flat Expected
Apr 1, 2014 10:00AM March ISM Manufacturing 53.7 vs 54 Expected
Apr 1, 2014 09:45AM Markit March US Manufacturing PMI 55.5 vs 56 Expected
Apr 1, 2014 09:10AM Macau March GGR Up 13.1% - Deutsche Bank Citing DICJ (LVS) (MGM) (WYNN) (MPEL)
Mar 31, 2014 10:31AM Dallas Fed Manf. Activity 4.9 vs 3 Expected
Mar 31, 2014 09:56AM Chicago PMI Fell 3.9 Points to 55.9 in March, Missing Expectations
Mar 28, 2014 09:55AM March University of Michigan Confidence 80 vs 80.5 Expected
Mar 28, 2014 08:38AM Personal Income Rose 0.3% in Feb. as Payrolls Flounder; Spending Up 0.3%
Mar 27, 2014 05:18PM voxeljet AG (VJET) Files $100M ADS Shelf
Mar 27, 2014 10:30AM Natural Gas Inventory -57 bcf vs -52 bcf Expected
Mar 27, 2014 10:00AM Feb. MoM Pending Home Sales -0.8% vs 0.2% Expected
Mar 27, 2014 09:45AM Bloomberg Consumer Comfort -31.5 vs -29 Prior
Mar 27, 2014 08:43AM Initial Jobless Claims Fell 10K to 311K Last Week, Besting Expectations
Mar 27, 2014 08:30AM Q4 GDP Annualized QoQ 2.6% vs 2.7% Expected
Mar 26, 2014 10:33AM UPDATE: Crude Inventory 6.6M Barrels vs 2.85M Expected
Mar 26, 2014 09:45AM Markit US March Composit PMI 55.8
Mar 26, 2014 08:41AM Durable Goods Orders Rose 2.2% in Feb., Led by Gains in Transportation Equip.
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