US indices soar despite weak data

US markets are sharply up on Tuesday with both US30 and US500 adding 0.9%, US100 advancing 1.2% and USFANG surging by as much as 1.9% despite two very downbeat reports from the US economy. The Conference Board consumer sentiment index declined over 7 points to 124.1 points, defying expectations for a modest increase and housing starts for February tumbled to 1162k, way below the consensus of 1218k.