Stocks climbed on Thursday as data spurred optimism on the nation's economy.
Wall Street opened lower, but reversed course after the Philadelphia Federal Reserve Bank said its business activity index rose far more than expected in March, rebounding after a contraction in February.
Home builders outside the Northeast had a much better quarter than their weather-battered counterparts, Susquehanna Financial's Jack Micenko says.
Wall Street opened lower but reversed course after the Philadelphia Federal Reserve Bank said its business activity index rose far more than expected in March, rebounding after a contraction in February.
"These stocks are not expensive," Jim Cramer said on "Squawk on the Street" about companies that offer an indirect way to invest in the housing sector.
Janet Yellen left traders with three takeaways: the dollar will strengthen, rates will rise, and easy money policies are on their way out.
*Ukraine in view as Russia seizes naval bases. *Lennar Corp, Jabil Circuit both rise after results. NEW YORK, March 20- U.S. stock index futures pointed to a modestly lower open on Thursday as investors continued to digest comments from Federal Reserve Chair Janet Yellen, who raised the specter of an earlier-than-expected rate hike.
Experts say that even if this week's data come in soft, we could still be in the early stages of a new American housing boom.
Some of the names on the move ahead of the open.
March 20- Lennar Corp reported a 36 percent jump in quarterly profit as it sold more homes at higher prices but said it was too soon to predict the strength of the spring selling season. Lennar's shares rose about 3.5 percent in premarket trading.
*KB Homes, other homebuilders shares rise. March 19- KB Home, the No. 5 U.S. homebuilder, reported a first-quarter profit for the first time since 2007 as it sold homes at higher prices in California, its largest market, and indicated towards a strong spring selling season.
March 19- KB Home, the fifth-largest U.S. homebuilder, reported a better-than-expected quarterly profit as a shortage of ready land to build on helped it increase selling prices, sending its shares up as much as 10 percent in morning trade.
Confidence among the nation's home builders edged up slightly in March but is still mired in the negative, way down from recent highs.
Investors have been selling stocks, sometime with abandon. Jim Cramer thinks there could be opportunity ahead.
Investors looking to catch a ride with companies that have high-flying earnings projections should be wary before hopping aboard.
With stocks near all-time highs, short interest reached the highest level in 20 months, but some investors are seeing the trend as a bullish sign.
Stocks eked out small gains in volatile trading Wednesday, with the Nasdaq briefly hitting a 14-year high.
WASHINGTON, Feb 18- U.S. homebuilder confidence suffered its largest one-month drop ever in February, heightening concerns that recent signs of weakness in the economy reflect deeper problems than the severe weather that has gripped much of the country.
Some of Tuesday's midday movers:
After a temporary drop in the last six weeks of 2013, short interest is back on the rise.