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Yesterday after the market close investors a slew of corporate earnings announcements including Microsoft, Google, and Starbucks who all blew away expectations.

 

Home price gains continue to outpace expectations, as tight supply and strong demand lead to bidding wars.  Nationally, prices in February rose 12% year over year, up from 11.2% in January, according to the S&P CoreLogic Case-Shiller home price index.  The 20-city composite saw gains that were in the double digits, except Chicago and Las Vegas. The cities with the largest gains continue to be Phoenix, San Diego and Seattle.

 

Consumer confidence rose sharply for a second straight month, hitting the highest level since the pandemic began, as the rapid rollout of vaccines and another round of U.S. financial support for Americans boosts optimism.  The Conference Board reported that its consumer confidence index advanced to a better-than-expected 122 in April, up from 109 in March. It was the strongest reading since the index stood at 133 in February 2020, right before the COVID-19 pandemic struck in the United States.

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