Think the financial hurricane has past? According to one widely followed investor, this is the eye of the storm.
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...
The National Association of Home Builders says its housing market index increased for the second month in a row in May, reflecting growing optimism on the part of many builders
They looked like hot stocks; so how are the Fast Money traders playing Pulte, Fortress and other losers, now that they've been burned!
The April employment report and Thursday's late news on bank stress tests will steer Friday's markets.
Stocks pulled off a gain after a turbulent session Wednesday as investors weighed reports that indicated the pace of layoffs is beginning to slow against worries that the rally may be getting ahead of itself.
Stocks opened higher following two reports that showed the pace of layoffs is beginning to slow but soon turned mixed as investors pulled the reins on the rally.
If Fed Chairman Ben Bernanke continues to see those "green shoots" in the economy, stocks could push higher again Tuesday.
After a couple of bearish days, the bulls regained their footing in the shortened trading week. There was plenty of action off the trading floor as well, with a major decision by the Federal Accounting Standards Board, a heartening merger in the housing industry, and some impressive earnings projections from Wells Fargo.
On Wednesday, investors were intriqued to learn that a big merger appears likely in the housing sector. Does it signal the worst is over?
Stocks snapped a two-day slide on Wednesday largely due to optimism about insurance firms and retailers.
Stocks pulled off a gain Wednesday, helped by a late rally, as investors bet on a recovery in some big-name techs.
Cramer ventured a guess during Wednesday's Stop Trading!. Plus, a look at the recession's impact on the booze business. People drink more during hard times, right?
While a recent trickle of good news has some hoping that a housing bottom is on the horizon, investors are playing it safe.
Pulte Homes' purchase of Centex certainly gave volume to the buzz that there is a housing recovery right 'round the corner.
The Pulte bid for Centex appeared to show that the housing industry has a pulse after all; there's been strong speculation about what the minutes from the Fed's last momentous meeting will say; and Alcoa's earnings, though dismal, failed to send Wall Street into a tailspin. The pros generally agreed about the effects of all those things, but there was no consensus at all about how soon things will look better overall.
Stocks wobbled Wednesday as the Treasury denied a report that it might extend TARP funds to some insurers and as earnings worries cast a shadow over the market.
As further proof of what I wrote about yesterday in the New Urge To Merge, today Pulte Homes and Centex agreed to merge.
So earnings season is underway, and the key test will be how the market responds to what is expected to be a concerted attempt to talk down expectations for the rest of the year.