The first time home buyer is coming back big this spring as mortgage rates fall and rents increase, according to Wall Street research.» Read More
Well, the Federal Reserve chairman didn’t say that exactly. But the central bank’s announcement Wednesday sure seemed to imply it.
Lennar is seeing a feeding frenzy of bearish options trading, as hedge fund managers circulate rumors that the homebuilder has hired a bankruptcy law firm.
Stocks fell flat as investors grew more confident that the government will stabilize the battered financial sector, but technology remained weak.
For the week ending Friday, February 6, 2009, stocks edged up on a surprising rise in December pending home sales, a smaller than expected contraction in January’s ISM Non-Manufacturing Index, and strong earning results from the pharmaceutical sector.
Stocks ended higher Tuesday, snapping a three-day losing streak, as an earnings beat from Merck and better-than-expected housing report gave the market a boost.
Stocks had a topsy-turvy morning as investors digested a revival in pending-home sales and an earnings beat from Merck against some gloomy news out of the tech sector.
US stock index futures struggled to find direction ahead of the open Tuesday, following a mixed close for stocks Monday, as investors feared the government stimulus plan may not provide the catalyst they hoped for.
Traders are watching tech as a bright spot in an otherwise tentative market, which is focused on a banking industry bailout, the economy and earnings news.
Hope for a modest recovery in the housing sector spurred by a recent decline in mortgage rates, seems to be a far fetched pipe dream.
Major homebuilders are down across the board today as Lennar faces fraud accusations from a self-described consumer group.
The promise of an Obama stimulus package has raised hopes that the battered housing sector will soon stabilize. That's encouraged investors to buy home builder stocks — but Ivy Zelman of Zelman and Associates warns investors to be very selective.
The Dow soared higher on Tuesday after the Federal Reserve rewrote its playbook by slashing borrowing costs to a record low, even zero...
Beware of the bear. Traders say the stock market looks better; acts better and feels better, and might actually be on an uptrend, for now. Stocks have gained more than 6 percent in the past two sessions, and major indices are up about 20 percent since the Nov. 20 closing low.
Friday's markets could be subdued after Wednesday's pre-Thanksgiving rally. Traders said the multiple days of stock market gains, the longest winning streak since April, was an encouraging sign. They expect Friday to be a light volume day ahead of the early 1 p.m. close.
Stocks eked out a gain Tuesday as the massive amount of stimulus being thrown at the economy has started to lift the mood on Wall Street. The Dow and S&P extended their winning streaks for a third day, though the Nasdaq slipped amid a selloff in big-name techs.
Home builder D.R. Horton reported a wider quarterly loss Tuesday — yet its shares jumped on U.S. government moves to buoy the financial sector. But home prices and mortgage rates dropped further with no floor in sight. Experts told CNBC the problem is market schizophrenia: equity markets have bottomed but credit markets are still spiralling downward.
Technology stocks led the market lower as a morning rally inspired by the Federal Reserve plan to support consumer lending fizzled.
Stocks rose for a third straight day, fueled by news that the Federal Reserve will create a facility to support consumer lending.
Mr. Paulson will be the key today, as he is expected to open the TARP to car, credit card and student loans, and heaven knows what else. More importantly, a separate facility will buy mortgage-backed securities.
Futures spiked following news that the Federal Reserve will create a facility to support consumer lending.