Tailwinds for the Residential Housing Sector

What’s in Today’s Report:

• Is Residential Housing the Big Winner In All of This?

Stock futures are flat and overseas equities were little changed overnight as investors digest the recent run to fresh record highs in the S&P amid very quiet news flow.

Internationally, Germany extended a “crisis job support program” which has helped keep millions employed since Q1 lockdowns. The extension is bolstering sentiment globally and helping EU shares modestly outperform today.

There were no notable or market-moving economic reports overnight.

Looking into today’s session, there is one economic report to watch ahead of the bell: Durable Goods Orders (E: 4.3%) and one Fed official scheduled to speak shortly after the open: Barkin (10:00 a.m. ET).

The limited number of catalysts today will likely leave stocks to trade with a sense of “Powell paralysis” ahead of the Fed Chair’s speech during the Economic Policy Symposium tomorrow morning however markets will remain sensitive to any further vaccine headlines or stimulus bill developments.