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Stock Rover V8 Arrives Monday
Stock Rover is pleased to announce the release of V8, which will be available on Monday, May 24th. All users who log into Stock Rover on or after May 24th will automatically be running the new release.
V8 has a number of new features and design changes that will make using Stock Rover even more productive and rewarding. You can read about the release in our latest blog post. 
The U.S. Census Bureau reported  that housing starts fell in April coming in at a seasonally adjusted 1.57M, this represents a 9.5% decrease over March’s downwardly revised 1.73M. Single-family starts declined 13.4% to a rate of 1.09M from the revised March rate of 1.26M. However, housing starts are tracking +67.3% year-over-year. New housing permits increased 0.3% in April to a seasonally adjusted 1.76M and are tracking +60.9% year-over-year. Single‐family permits fell 3.8% in April to 1.15M following a revised March rate of 1.19M. Regional new housing permits issued by region reported as follows: Northeast +8.4%, Midwest -9.9%, South +3.9%, and West -4.1%. The number of single-family homes permitted but not started increased in April to 131,000 units, a 47% year-over-year increase. Housing completions decreased 4.4% to a seasonally adjusted 1.45M and are tracking 21.7 % above April 2020’s 1.19M.
The Department of Labor reported  that for the week ending May 15, the advance figure for seasonally adjusted initial jobless claims was 444,000, a decrease of 34,000 from the previous week’s revised level. The 4-week moving average decreased to 504,750, a 30,500 drop from the previous week’s revised average. States with the biggest declines include Georgia (-8,216), Kentucky (-7,175) and Texas (-4,828), while New Jersey (+4,384), Washington (+2,309), and Oklahoma (+2,228) experienced increases. Continuing claims for ongoing benefits rose by 111,000 to 3.75M for the week ending May 8th. The total number of all those claiming unemployment-related benefits decreased to 15.97M for the week of May 1, a drop of almost 900K from the previous week.
Markit’s  U.S. Flash Purchasing Managers Index (PMI) for May found a continuing acceleration in business activity growth as readings set series record highs. The composite PMI increased from 63.5 in April to a series high 68.1, with increases from both manufacturing (+1.6%) and services (+8.3%). Service providers reported a solid expansion in staffing levels, and manufacturers noted a rise in new orders with improvements coming from greater customer confidence and the further reopening of the economy. While employment rose for the eleventh straight month, the rate of increase slowed due to difficulties filling vacancies. Manufacturers reported higher order volumes due to material shortages and efforts to stockpile ahead of rising costs, in addition new exports rose at a series high pace.
Upcoming Economic Reports:
Tuesday May 25 – CB Consumer Confidence (May)
Thursday May 27- GDP (QoQ) (Q1)