New homes are popping up all across the US. Construction of new, single-family homes rose 1.1 percent in February to a seasonally adjusted annual rate of 1.14 million units, the Commerce Department reported. That's the highest level since 1978.
Meanwhile, the US trade deficit jumped in January to a record $17 billion. The deficit caught Wall Street by surprise. The Dow Jones Industrial Average topped 10000 for the first time last week, but has yet to close above that level.