DC Lite #69
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1. New home construction (I). Housing starts plunged by 14.8% MoM in January, the largest drop since April 2020, while building permits fell unexpectedly.
2. PPI. "Producer prices rose more than expected in January, with core PPI (yellow line) rising by 0.5%, its largest monthly increase since last July."
3. US equity fund flows. "This past week flows turned positive for equities (to +$10.37bn from -$16.67bn)."
4. Tech fund flows. Tech funds attracted $2.3bn for their 6th straight week of inflows.
5. Q4 surprise (I). "In aggregate, companies are reporting earnings that are 3.9% above estimates, which is below the 5-year average of 8.5% and below the 10-year average of 6.7%."
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