Housing Starts Rise 6%

Adviser Investments Chief Investment Officer Jim Lowell has the market analysis for Thursday, May 15. Major U.S. indexes continued bouncing back, nearly recouping Monday’s steep losses for the week. The Dow Jones Industrial Average, S&P 500 and NASDAQ Composite rose 0.8%, 0.9% and 1.0%, respectively. Today’s gains were propelled, in part, by solid economic data from the housing sector. Following three consecutive monthly declines, the Commerce Department reported better than expected new-home construction breaking ground in April, with single and multi-unit expansion both driving the nearly 6% monthly gain.