After a morning dip dampened Monday's gains, stocks bounced back Tuesday. Art Cashin, UBS Financial Services director of floor operations, offered CNBC his insights and outlook for the stock market.
Futures dropped as housing starts for April came in at 458,000, well below expectations of 520,000, and permits came in at 494,000, also well below expectations of 530,000. However, most of the drop is attributable to lower multifamily construction; single family starts and permits rose, though they are still low.
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