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The U.S. Labor Department said that consumer prices were up .3% in March and up 4.0% from a year ago. Excluding food and energy, prices were up .2% in March and up 2.4% from a year ago.

The March eurodollars fell .21 to 97.26, the lowest close in seven weeks.

The U.S. Census Bureau said that housing starts were at an annual rate of 947,000 units, down 11.9% from February's pace and down 36.5% from a year ago - much weaker than expected and the lowest in 17 years. Building permits were down 5.8% in March, also the lowest in 17 years. Surprisingly, July lumber was just down $1.20 at $242.00.

The June U.S. dollar index closed down .645 at a new contract low of 71.645 as today's weak housing report made it more likely that the Federal Reserve will keep interest rates low. Many commodities started the day higher for the same reason.

The Federal Reserve said that industrial production was up .3% in March, better than expected, after dropping .7% in February.

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