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Equities Pause after Six Up Sessions   
Wed, 23 Apr 11:13 AM EST/04:13 PM GMT
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Economic Data
- (RU) Russia failed to sell planned RUB10B indicated in May 2019 OFZ bonds (2nd failed auction in session)
- (UK) Apr CBI Industrial Trends Total Orders: -1 v +7e; Selling Prices: 9 v 10e; Business Optimism: 33 v 25e
- (US) MBA Mortgage Applications w/e Apr 18th: -3.3% v +4.3% prior (9th decline in last 11 weeks)
- (CA) Canada Feb Retail Sales M/M: 0.5% v 0.5%e; Retail Sales Ex Auto M/M: 0.6% v 0.5%e
- (MX) Mexico Feb Retail Sales Y/Y: -1.7% v +0.4%e
- (EU) Weekly ECB Forex Reserves: €209.4B v €209.2B
- (US) Apr Preliminary Markit Manufacturing PMI: 55.4 v 56.0e
- (US) Mar New Home Sales: 384K v 450Ke
- (US) DOE Crude: +3.52M v +2.5Me; Gasoline: -275K v -1.5Me; Distillate: +600K v -500Ke

- The S&P500 is in the red this morning after six consecutive sessions of gains off the mid April low. Weak US trading volumes continue this morning as indices remain under pressure. As of writing, the DJIA is down 0.57%, the S&P500 is down 0.05% and the Nasdaq is down 0.45%.

- New home sales tumbled to eight-month low in March, dropping 14.5% y/y. However the January and February totals were revised up 3% and 2%, respectively. Affordability is likely becoming a big factor for the market: the median new home price rose to a record high of $290K, up 13% y/y. Most of the major homebuilding names are in the red this morning, down 1-3% a piece.

- WTI crude is at two-week lows this morning around $101.25 after yesterday's big slide from the mid $103 handle. Note that last night, the API weekly inventory data showed the smallest build i ...
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