Traders will watch the rollout of further results for signs into how companies are holding up amid a period of persistent inflation and rising interest rates.
While earnings results so far have proved resilient, traders are on the lookout for insight into how companies are holding up amid a period of persistent inflation and rising interest rates, paying close attention to financials after dual bank failures last month sent shockwaves across the sector.
"There's been a lot of pessimism about the economic outlook, about the financial outlook, since the beginning of last year," Yardeni Research's Ed Yardeni said Monday on CNBC's ""I have said that I think we're in a recession. We've been in a recession since last year. But it's a rolling recession, and it keeps rolling in different industries, and all in all, it isn't adding up to an economywide recession," Yardeni added.
On the economic front, traders are watching for the latest housing starts and building permits data. March housing starts are expected to fall 3.4% to 1.40 million units, according to consensus estimates from Dow Jones. March building permits data is forecasted to drop 4.9% to 1.45 million units, according to economists polled by Dow Jones.
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