Stocks regained their footing in choppy trading Wednesday, with the Dow and S&P 500 closing at a fresh high, but a sharp decline in Apple kept a lid on the Nasdaq's gains.» Read More
NEW YORK-- Shares of homebuilders tumbled Thursday on a report that U.S. builders broke ground on fewer homes in April, but analysts said the drop could be looked at as a buying opportunity. According to the Commerce Department, builders started construction at a seasonally adjusted annual rate of 853,000, a 16.5 percent drop from the March pace of 1.02 million.
Stocks regained their footing in choppy trading Wednesday, with the Dow and S&P 500 closing at a fresh high, but a sharp decline in Apple kept a lid on the Nasdaq's gains.
Home builders have been pausing after a big run, and yesterday momentum buyers came back to the group.
Take a look at some of Friday's midday movers:
CNBC real estate reporter Diana Olick with what to expect in the housing sector this spring.
Maybe Europe is sick. But why should you suffer?
With the quarter quickly drawing to a close, Jim Cramer thinks the week ahead could be whopper.
Stocks finished in negative territory Thursday, dragged by techs, amid ongoing concerns over Cyprus' ability to get a bailout.
*1st- quarter loss $0.16/ share vs est. loss $0.22/ share. *To invest more than $1 billion in 2013 on land acquisition. March 21- KB Home, the fifth-largest U.S. homebuilder, plans to invest more than $1 billion this year on land acquisition and development as it steps up growth initiatives amid a strong U.S. housing recovery.
Stock index futures hovered around the flatline Thursday following the weekly jobless claims report, while uncertainty in Cyprus kept investors on edge.
Housing and jobs data will get a close look from traders Thursday, as they continue to dissect the latest comments from the Fed.
Stocks cut their losses in the final hour of trading to close narrowly mixed Tuesday, after lawmakers in Cyprus overwhelmingly voted against the controversial bank bailout deal.
The Fed could add fuel to the market rally in the week ahead, keeping the Dow on track for its best first quarter since 1998.
Check out which companies are making headlines after the bell Wednesday:
*Lennar Corp, Toll Brothers enter rental market as demand shifts. March 12- Battered by the financial crisis, homebuilders in the United States are adopting a targeted approach to growth as the cyclical housing market swings upward again.
CNBC's Diana Olick looks at today's mortgage application numbers. A drop in the rate of the 30-year fixed sent mortgage apps higher, she reports.
Stocks ended near their best levels Tuesday, recovering from their worst one-day drop in 2013, following Fed Chairman Ben Bernanke's speech and buoyed by a batch of upbeat economic reports.
Although the U.S. housing market is improving, some analysts are saying the run may be over for the home builder stocks.
After some home builder stocks nearly doubled in 2012, one analyst says the group has gotten ahead of itself. But he has another stock that could double as housing recovers.
Stocks finished modestly higher across the board Tuesday, with the Dow and S&P 500 closing at their best levels since October 2007, lifted by optimism for more M&A deals and after positive economic data from Europe.