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1. New home sales. Sales of new homes plunged by 17.3% MoM in October, the sharpest decline since 2013, to the lowest level in 2 years.
2. Consumer confidence. "The labor-market differential (share of respondents who say jobs are plentiful less those who say they're hard to get) improved for the second straight month in November."
3. Trump tariffs. "We estimate that there was about a 60bp hit to EBIT margins from increased tariffs during the 2018-19 trade war. A 60bp hit to current EBIT margin would translate to a 4% hit to EPS."
4. Consumers vs. stock prices. "56% of Americans think stock prices will increase over the next 12 months (a record). It's rare for half of respondents to think the market will climb. We've been at 50%+ in this gauge for two months now."
5. Cumulative Advance-Decline Line. "The breakout in stocks is supported by breadth."
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