- US jobless claims unexpectedly rose to 861,000 last week
- Supply concerns after Texas storms push oil prices to 13-month highs
- Sterling rises to near-one-year high against euro
- ECB minutes: ‘Ample monetary stimulus remained essential’
Wall Street has opened lower after the worse-than-expected jobs data, with the biggest losses on the tech-heavy Nasdaq.
Other US data showed housing starts fell 6% in January to 1.58m units. Here is the Reuters report:
US homebuilding fell more than expected in January amid soaring lumber prices, though a surge in permits for future construction suggested the housing market remains supported by lean inventories and historically low mortgage rates.
The housing market has outperformed other sectors of the economy during the COVID-19 pandemic, supported by lower mortgages rates and demand for spacious accommodations for home offices and schooling. But expensive inputs and lack of land pose a threat to continued robust housing market gains.
US single-family housing starts cool down a bit
report (pdf): https://t.co/vjuVMAFGjz pic.twitter.com/K9lsOL95JR
US Housing Starts – Full Reporthttps://t.co/SZj2aA3tCU pic.twitter.com/vUc85Kruwc
