The market is rocking on a combination of strong corporate earnings from heavyweight names and more evidence the economy is heating up- big time.  #Winning

Economic Data

Industrial Production

• +0.9% m/m (50% better than estimate)
• +2.9% y/y (strongest January 2015)

Highlights:

• Mining +6.5%
• Manufacturing +2.5%

Housing Market Index

The housing market has had its share of fits and starts, but the underpinnings have hinted at a potential major shift higher.  The 70 reading for the Housing Market Index is the best since March and second-best level since June 2005.

• Single Family read of 77 matches March’s level and the highest since December 2004
• Traffic read was 50 (expansion)

The rest of the session should hold unless more Senators voice public concern with their tax bill or say for now they are a “no.”