The main indices are falling today as investors continue to digest corporate earnings. The drop in stocks comes despite most earnings beating expectations. Economic data on Tuesday was mixed.
The Case-Shiller National Home Price Index (HPI) rose 0.2% in February, the 1st increase after falling 7 straight months. Home prices were up 2.0% YoY. The closely watched 20-city HPI was up 0.1% for the month and 0.4% over the past year.
Elsewhere, US home sales were up 9.6% in March to an annual rate of 683,000, the highest level since March 2022.
The Conference Board Consumer Confidence Index fell to 101.3 in April, down from 104.0. The Present Situation Index increased to 151.1, while the Expectations Index fell to 68.1.
Treasury yields are lower, with the 2-year T yield down 13.0 basis points to 4.01%, the 5-year T yield down 13.2 basis points to 3.47%, and the 10-year T yield down 11.0 basis points to 3.41%. Shorter-term advance rates are mostly higher, while longer-term rates are lower.