Stocks hit record highs as U.S. housing starts soar to 13-year high

Shares of Apple are up 0.45% to 316.71in early trading after Thursday’s release of better-than-forecast weekly jobless claims, strong business activity numbers, and as U.S. housing starts soared nearly 17% in December and reached a 13-year high.

Apple logo: Stocks hit record highs as U.S. housing starts soar to 13-year highFred Imbert for CNBC:

The Dow Jones Industrial Average traded 32 points higher, or 0.1%. The S&P 500 gained 0.2% while the Nasdaq Composite advanced 0.4%…

In the U.S., housing starts soared nearly 17% in December and reached a 13-year high. That data follows Thursday’s release of better-than-forecast weekly jobless claims and strong business activity numbers from the Philadelphia Federal Reserve.

Friday’s gains added to an already solid weekly performance. Through Thursday’s close, S&P 500 and Dow are up more than 1.5% each while the Nasdaq is up nearly 2%.

MacDailyNews Take: The tide continues to rise! A strong economy obviously benefits makers of coveted goods such as Apple. It also benefits AAPL shareholders. Plus the multi-year super cycle that’ll be kicked off by “iPhone 5G” looms!

Some details: Housing starts jumped 16.9% to a seasonally adjusted annual rate of 1.608 million units last month, the highest level since December 2006. Data for November was revised higher to show homebuilding rising to a pace of 1.375 million units (vs. the previously reported 1.365 million units). Housing starts were up 40.8% year-over-year in December.


    1. I hope you enjoyed your French champagne while celebrating the gambling den overvaluations.

      Now for your trade war hangover:

      “Spending on nonresidential structures contracted in 2019 by the most since 2016. Trade tensions have eroded business confidence and weighed on capital expenditure.”

      2.3% GDP growth, slower than the prior administration and well below all campaign promises! Corporations sitting on record cash overseas. Average personal income rising at 1.5% as the elite billionaires skim off the cream. So much for the promised re-invigoration of US manufacturing….

      I know it is lost on you, but this administration has been flying by the seat of its pants acting as a reality TV show without a plot. There is no long term strategy, the buffoon simply likes to see his name in the press. If you wanted your nation to be greater than it already is, then you would see investment in domestic infrastructure, energy diversification, more efficient non-confrontational international cooperation, dramatic reforms to education and healthcare, and a clearly communicated long term plan with actual goals. Your hero slashes billionaire and corporate tax rates and then spends the rest of his time tweet bashing and golfing, leaving steaming piles everywhere for others to clean up.

      It will be interesting to see how you spin it when the overheated stock market crashes next. Assigning credit and blame has never been a symmetric thing in your twisted mind.

  1. Agreed the economy is growing fast. Great for my APPL stocks and 401k in general. Employment is at a all time high and wages are increasing (especially in tech areas).
    Haven’t seen house prices rising yet. The buying season won’t really pick up until April and the spate of new housing may help with demand.
    Of course if the economy overheats we could end up in the same credit crunch mess that we had in 2008. Boom and bust will happened again. Enjoy the ride whilst it lasts.

  2. Amazing MULTIPLE economic numbers from the non-professional politician who has been schooling the entrenched swamp in Washington — HOW to get it done. Nothing short of remarkable!

    Thank you Mr. President Trump for an astounding turnaround of the last eight years …

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