Homebuilders are broadly lower following the latest drop in home prices, with no relief in sight. Monthly data showed declines in 19 of the 20 regions, and 11 regions posted new record cycle lows: Atlanta, Charlotte, Chicago, Detroit, Las Vegas, Miami, New York, Phoenix, Portland, Seattle, and Tampa.
A pair of reports suggest that two of Apple's (AAPL -1.8%) biggest product updates of 2011 may be facing Asian supply chain delays. A Taiwan brokerage predicts a delay in the iPad2 launch to June from April due to "production bottlenecks," and FBR Capital Markets cites supply problems in seeing a delay in the iPhone5 to September from July.
Feb. Consumer Confidence: 70.4 vs. 66 expected, 64.8 in Jan. Expectations rose to 95.1 from 87.3. Present situation rose to 33.4 from 31.1. Index is now at a three-year high.