Stocks struggled to stay in positive territory for any length of time Tuesday as profit-taking after Monday's blockbuster rally overshadowed a fifth-straight rise in pending-home sales.
Stocks bounced back from a lower open Tuesday after a surprisingly sharp jump in pending-home sales.
Futures suggested stock would retreat Tuesday after a milestone session on Monday that sent the S&P over 1,000 for the first time since November.
Better economic news keeps biting into the dollar, and it could for awhile. That trend is also propelling stocks, and on Monday, the S&P 500, the Dow and Nasdaq all closed sharply higher. They also all cracked big round numbers, with the Dow finishing up 1.25 percent higher at 9286, its first close above 9200 since November.
The Chinese market is likely to fall 25 percent, taking U.S. stocks with it, with the S&P 500 possibly falling below 800, Robin Griffiths, technical strategist at Cazenove Capital, said Monday. But then U.S. indexes will rise again for a substantial amount of time, with the Dow estimated to rise to 1,250, he added.
Thousands of first-time homebuyers will be able to get short-term loans so they can quickly make use of a new $8,000 tax credit to pay for some of the costs of buying a home purchase.
KB Homes is up nearly 6 percent along with heavy options activity, as traders may be thinking that housing prices are finally hitting bottom.
Unemployment hit 8.9 percent in April and some predict that number could climb over 10 percent in 2009 as major companies further streamline operations to combat the recession. While some industries are more labor intensive than others, employee productivity is a key measure that managers and investors look at when evaluating performance. Take a look at which companies are squeezing the most out their shrinking workforces.
The imbalance in housing demand and inventories will continue to keep home prices down for some time, said Michelle Meyer, economist at Barclays Capital, and Karen Weaver, analyst at Deutsche Bank.
Options trading turned bullish in Lennar Monday, after Citigroup predicted that the home builder will survive the housing bust. Call volume surged to 12,428 contracts, more than triple the 20-day average...
Following are the week’s biggest winners and losers. Find out why shares of Tyson Foods and Philip Morris popped while IBM and NVIDIA dropped.
It’s time to get into home builder stocks, said Jim Wilson, managing director at JMP Securities. Mike Crofton, CEO of Philadelphia Trust Company, disagreed — but had some housing-related picks of his own.
Shares of Lennar led the homebuilders lower after a report showed prices of single-family homes declined by a record 19 percent. Is there a trade here?
Cramer makes the call on viewers' favorite stocks.
Cramer explains why the market's pause is right. Plus, calls on the banks, homebuilders and natural gas.
Stocks ended higher Wednesday as a surge in the final minutes of trading pushed all three indexes in positive territory.
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.