Homebuilder confidence soared last month with the index rising to its highest point since June of last year. The National Homebuilder index rose to 40 last month after falling to a reading of 30 in September of last year. Even though the index continues to show signs of recovery in the housing market, an index reading below 50 is still an indication of "poor" conditions in the housing sector.

The interest rate market is now positioning itself for the possibility of no changes by the FED for the entire year. Given the current level of interest rates...I could live with that!!! The market will close early today and will remain closed until next Tuesday.