Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,326,000, the Census Bureau and the Department of Housing and Urban Development announced. This is 9.7% above the revised December estimate of 1,209,000 and is 7.3% above the January 2017 rate of 1,236,000. Single-family housing starts in January were at a rate of 877,000; this is 3.7% above the revised December figure of 846,000. The January rate for units in buildings with five units or more was 431,000.

THE ECONOMIC WEEK AHEAD: Tomorrow, the National Association of Realtors will report about existing home sales for January. Thursday, the Labor Department will issue its initial claims report.

Friday, the Dow finished 19.01 points (0.08%) higher at 25,219.38, the NASDAQ was down 16.97 points (0.23%) at 7,239.47, and the S&P 500 increased by 1.02 points (0.04%) to 2,732.22. The Russell 2000 closed 6.35 points (0.41%) higher at 1,543.55, and the Wilshire 5000 was up 6.45 points (0.02%) at 28,337.62.

The price of the 10-year Treasury note increased 11/32, bringing its yield down to 2.870%. The price of the 30-year Treasury bond climbed 23/32, decreasing its yield to 3.129%.

WEEK’S WORTH: For the week ending February 16, the Dow was up 4.25%, the NASDAQ climbed 5.31%, and the S&P 500 increased 4.30%. The Russell 2000 gained 4.45%, and the Wilshire 5000 finished 4.34% higher.

ON THIS DATE: In 1792, U.S. President George Washington signed the Postal Service Act that created the U.S. Post Office. In 1809, the U.S. Supreme Court ruled the power of the federal government was greater than that of any individual state. In 1815, the USS Constitution, under Captain Charles Stewart fought the British ships Cyane and Levant. The Constitution captured both, but lost the Levant after encountering a British squadron. In 1872, Luther Crowell received a patent for a machine that manufactured paper bags. In 1872, the Metropolitan Museum of Art opened in New York City. In 1880, the American Bell Company was incorporated. In 1944, “Big Week” began as U.S. bombers began raiding German aircraft manufacturing centers during World War II. In 1952, Emmett L. Ashford became the first black umpire in organized baseball. He was authorized to be a substitute in the Southwestern International League. In 1962, John Glenn made space history when he orbited the world three times in 4 hours, 55 minutes aboard the Friendship 7 Mercury capsule. He was the first American to orbit the Earth. In 1998, American Tara Lipinski, at age 15, became the youngest gold medalist in winter Olympics history when she won the ladies’ figure skating title at Nagano, Japan.