A trio of key economic indicators released today significantly surpassed expectations, signaling robust underlying strength in the U.S. economy and easing investor concerns about a potential slowdown. Housing starts, durable goods orders, and industrial production all posted figures that beat consensus forecasts. Reports indicated that manufacturing output, in particular, saw its best performance in nearly a year.
The stronger-than-anticipated data suggests that the economy has maintained momentum, driven by resilient business investment and a stable housing market. This positive economic picture appeared to outweigh ongoing concerns about technology sector disruptions, fueling a broad-based rally in equities as traders recalibrated their growth expectations for the coming quarters.
Market Impact: The S&P 500 gained +0.64%, the Nasdaq Composite increased by +0.99%, and the Dow Jones Industrial Average rose +0.36%. In cryptocurrency markets, Bitcoin was down 2.13% and Ethereum fell 2.41% since the last session close.