The Dow got a little bump at the opening bell but fell off the cliff into a triple-digit decline after pending-home sales dropped more than expected. Adding to the uncertainty in the market, Lehman Brothers fell to its lowest level in a decade amid market buzz that the brokerage is going to be unable to raise the capital it needs.
The Dow got a little bump at the opening bell but pared its gains after pending-home sales came fell more than expected. There had been little conviction in buying Tuesday as enthusiasm waned over the bailout of Fannie Mae and Freddie Mac and worries about the economy returned to the markets.
After the announcement of the Freddie Mac and Fannie Mae bailout, mortgage rates fell to their lowest level in about five months. Here are the longer term trends...
Stock index futures pointed to a flat open for Wall Street as enthusiasm waned over the bailout of Fannie Mae and Freddie Mac and worries about the economy returned to the markets.
Day to day the news is still bad. Lousy earnings today from Toll Brothers after lousy earnings from Hovnanian yesterday after lousy housing starts data for July (starts at a 17-year low). Yet the S&P Homebuilding index shows the group up 20% over the last two months.
There are homebuilder strategies for savvy investors, says Randy Frederick. The director of derivatives at Charles Schwab gave his plays for the sector now.
As commodity prices decline, the retail sector revs up.
Plus, his take on housing stocks and a call correction from last week.
Stocks finished higher in feather-light trading Wednesday, boosted by a rise in financials and energy stocks, as well as a better-than-expected durable-goods report.
Stocks advanced in light trading Wednesday, boosted by a rise in financials and housing stocks, as well as a better-than-expected durable-goods report. Earlier, stocks had swayed, torn between the encouraging durables report and oil's ascent amid the threat of tropical storm Gustav.
The Mad Money host puts an expiration date on this misery and offers 10 reasons why he’s sure the end is near.
New Home Sales rose by 2.4% last month while June numbers were revised downward. While there are many factors to consider, the results continue to be a real life lesson of basic economics and the rules of supply and demand. Looking at the long term trends, don't expect changes overnight.
Earlier this week, we wrote about the highest yielding stocks on the Dow. The S&P 500 also has some nice yielding stocks. If you are worried about the financials being able to continue to pay thier big dividends (with Freddie Mac's big slide, its yield is now over 20%!), there are nearly 40 stocks on the S&P that are currently yielding 5% or more. Here's a breakdown.
Outside investment in a major bank has Cramer thinking we're ready for a turnaround.
Stocks pulled off modest gains Friday as enthusiasm for some better-than-expected economic reports outshined a warning from S&P of a possible downgrade on Fannie Mae and Freddie Mac.
I may not be the sharpest knife in the drawer, but it struck me as funny when S&P issued a report today maintaining its "Hold" on IndyMac. Hold on what?
Despite good news from our parent General Electric we are again being pushed around by oil at a record price, and by Fannie and Freddie. Both are down big (about 50 percent) this morning, largely on a New York Times story that the federal government was considering placing one or both of them in a conservatorship.
Stocks limped to the finish of an ugly week on Wall Street, with the Dow touching bear territory and the broader market continuing to be battered by a double dose of surging oil and a fresh round of banking troubles.
In the midst of reporting earnings from KB Home and Lennar this week, neither of which were particularly pretty, I saw a press release for an auction in Houston that tweaked my interest. The title reads: Greater Houston Real Estate Auction: Sign of the Times.
Stocks were mixed Friday as traders took a breather after Thursday's selloff that saw major indexes break through key levels and move dangerously close to bear-market territory.