Here Comes Homebuilder Confidence...

The NAHB housing market index for March is out at 10 a.m. ET. The HMI is a gauge of homebuilder confidence.

Economists polled by Bloomberg are looking for homebuilder confidence to rise to 50, from 46 the previous month.

The fall in February was the biggest decline on record.

The severe winter and concerns about the cost and availability of labor and lots were blamed for the decline in homebuilder confidence.

A reading over 50 shows that more builders view conditions as good than poor.