Here Comes Homebuilder Confidence...

The NAHB housing market index (HMI), a gauge of homebuilder sentiment, is out at 10 a.m. ET.

Economists polled by Bloomberg are looking for homebuildier sentiment to rise to 49 in May, from 47 the previous month.

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

The severe cold had weighed on homebuilder sentiment.