Homebuilder stocks have surged ahead of the broader market this year, and "Fast Money" traders believe that run should continue.» Read More
I'm out of the office today, but I'll be back -- and blogging -- on Wednesday. Happy Holidays!
The folks at HUD felt that my blog of yesterday left out some key points, namely, their side of the story, so I am happy to post a reply directly from them.
Stocks reversed a huge rally and closed with modest gains as dour forecasts from several banks overshadowed a Federal Reserve plan to ease the global credit crunch.
Betting on real estate these days is not for the faint of heart. Between the housing correction, economic uncertainty, the credit crisis and predicted softening in the commercial property markets, determining where to invest for future returns requires an extra dose of due diligence and, let's face it, good old-fashioned courage.
Stocks closed mostly higher on expectations that the Federal Reserve will cut interest rates and the U.S. government will help homeowners recover from the subprime mortgage crisis.
Shares of homebuilder stocks were trading higher on Tuesday after Pulte Homes reaffirmed its fourth-quarter outlook late Monday.
Abu Dhabi's $7.5 billion capital injection into Citi--that's 4.9% of the company--contains a stunning figure: a mandatory convertible that pays 11% yield (Citi currently has a 7.1% dividend yield)! That, as many have observed, is above the average yield for junk bonds, currently about 9%.
A late-day selloff pushed the major stock averages down 10% from their highs, meaning the market is now officially in a correction.
Here's our Fast Money Final Trade. Our gang gives you tomorrow's best trades, right now!
Without a dire market, the Fed won’t move.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Buying in tech stocks could lift the market again Wednesday, but Merrill Lynch earnings hang in front of the opening bell like a dark cloud. Or should we say Merrill's report of losses. The firm is scheduled to report third quarter numbers between 7:30 and 8 a.m., and analysts are forecasting a loss of $0.45 per share.
Cramer said he would consider "taking a shot" at the risky homebuilders, but only for a trade. Also, he shows support for the chief of Merrill Lynch.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Stocks finished near even Thursday as Wall Street endured another topsy-turvy session, with rumors – of more subprime trouble and a Fed rate cut – proving just as influential on the markets as a handful of economic and earnings reports.
Some positive earnings news is putting a floor under stocks but economic news and credit worries could be the ceiling. Durable goods data this morning showed signs of weakness, but new home sales rose a 4.8% to 770,000, a positive pickup after a decline in August. Forecasts were for 775,000 units.
Futures trading up as Motorola beat expectations and guided upward while EMC was in line and both are up nicely pre-open. There's strength in Europe, strength in Asia, third Quarter GDP in China rose 11.5%. That was in line with expectations. Chinese stocks are the only major market down in Asia, down 5%, probably on worries that more rate hikes are likely.
Pulte Homes, the No. 3 U.S. home builder, posted a quarterly loss Wednesday, on charges topping $1 billion and said orders fell 37 percent.
The "kitchen sink" theory is out the window. There's a trust problem developing on the Street. Remember a few weeks ago traders drove up the stocks of companies like Citigroup, even though they did take very large losses for subprime and CDOs?
U.S. stock investors looking to recoup from the worst week in almost three months will have to keep one eye out for signs of weakness in earnings due this week and the other on the threat surging oil prices.
The late summer global credit squeeze is showing further signs of easing, though the aftershocks are still being felt from homebuilders to hedge funds.
Moody's Investors Service on Thursday cut its ratings on home builders Centex, Lennar and Pulte Homes to junk status, saying it expects bleak housing industry conditions to linger at least until 2009.