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A 'Hot' Economy... With a Frozen Housing Market

Earnings season arrives right on time... 3M and Amazon make a data-center deal... Housing starts hit a four-month low... Nearly 15% of home deals canceled... Doc on what higher rates really mean...


Earnings season is arriving at just the right time...

Today was one of the strongest market days we've seen in a while. All the major U.S. indexes were higher, and almost all of the major S&P 500 sectors were up, along with around 400 of the U.S. benchmark-index companies.

So what happened?

After all, the war in Iran isn't over. At least two dozen attacks on tankers have been reported in or near the Strait of Hormuz this month alone.

Meanwhile, the price of diesel in the U.S. is up 70% since the war began, raising costs for all kinds of businesses. And we expect major developments in the war in the weeks ahead that could raise prices even more.

Mercifully for the market, a series of earnings reports was well received today. And strong ea

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