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A ransomware attack forced the closure of the largest fuel pipeline here in the US over the weekend. Colonial Pipeline, which operates a 5,500-mile system, said they were forced to halt the transport of fuel from the Gulf Coast to the Northeast on Friday as they took certain systems offline to contain the threat.  US fuel prices are trading sharply higher on the news. 

 

Home prices are sharply accelerating in the U.S., with the average price of newly constructed homes hovering around $400,000. And thanks to skyrocketing lumber prices — which are up over 300% in the last year — prospective homebuyers want to know if they should prepare for even higher prices.  The National Association of Home Builders estimate’s that lumber prices are adding at least $36,000 to the average purchase price of a new home.

 

So far, US companies have been blowing past expectations this earnings season, with corporate profits easily exceeding estimates as demand rebounds from the worst points of the pandemic last year. According to FactSet data, nine in 10 S&P 500 companies have reported first-quarter results, and 86% of those companies have topped expectations. If that holds through the next couple weeks, it would mark the highest percentage of earnings beats since FactSet began tracking the metric in 2008. 

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