As reports of Pending Sales of Existing Homes in the US turned in an uptick of 2.1% in Feb, stocks rallied.
Like totally.
The Dow was trading over -100pts in the red and shot right up to +50pts in 20 odd mins for a 150 pts surge.
The Pending Home Sales report tells you how many contracts are signed for the purchases of homes for 'delivery' in the future.
It also tell you that homes are really cheap in the US nowadays.
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