Macro:

[HOUSING STARTS] U.S. Single-Family Starts Tumble; Construction Backlog at Record High - Reuters

• The report from the Commerce Department shows a record backlog of homes approved for construction but have yet to be started.
• Homebuilder sentiment falls to 2-year low on declining demand and rising costs.

[POWELL VS. INFLATION] Powell Says Fed Has Resolve to Bring U.S. Inflation Down - WSJ

Speaking of Inflation… U.K. Inflation Hits 40-Year High - WSJ

Crypto:

[CHINA CRYPTO MINING] China Reemerges as Top Mining Hub a Year After Blanket Ban - Blockworks

[ROBINHOOD WALLET] Robinhood Plans ‘Web 3’ Crypto Wallet for DeFi Traders, NFT Buyers - CoinDesk

Business:

[TARGET TUMBLES] Target Earnings Squeezed by Inflation and Fuel Costs - CNBC

[LOWE’S SALES DECLINE] Lowe's Sales Decline as Demand Cools - CNBC

[NETFLIX STAFF CUTS] Netflix Cuts About 150 Staffers in Another Round of Layoffs - WSJ

Earnings:

Today PM: Cisco, Bath & Body Works, Copart

Tomorrow AM: Lightspeed, Kohl's, BJ's, Eagle Materials

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