NEWS

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Motorcycle icon Harley Davidson reported much better than expected first quarter earnings Monday before the market. $HOG saw momentum building rapidly as the US economy opened up and ridership soared. $HOG rose 10% on the report.

 

US March housing starts soared in March 19.4% m/m vs +13.5% expected, or 1739K v 1613K expected and February's revised 1457K. The highest reading since June of 2006, after harsh winter weather affected activity in February. Building permits were 1766K v 1750K expected.

The University of Michigan's consumer sentiment preliminary estimate came in at 86.5 the highest reading since March 2020 but lower than expected 89.0. One year inflation expectations are at the highest since 2012 3.7% vs 3.3% expected (3.1% prior)

Morgan Stanley reported better than expected first quarter earnings before the bell Fridayon stronger-than-expected trading and investment banking results. The boom in SPAC-issuance has been a boon in fees for for $MS.Bank of America, JPMorgan Chase, Wells Fargo  PNC Financial, Goldman Sachs and Citigroup reporting.

Blackrock reported better than expected first quarter earnings before the bell on Thursday. $BLK saw higher income from it's ETF and investment management income, reporting after Goldman Sachs $GS,  Wells Fargo $WFC and JPMorgan $JPM. BlackRock closed the quarter with over $9 trillion in total assets under management.

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