Nineteen billionaires release a letter asking the 2020 presidential candidates to support a tax on America's richest families.Economyread more
The Trump administration had argued the president has wide-ranging authority over national security matters.Politicsread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
Gold surged to its highest level in nearly six years on Monday as the prospects of lower Federal Reserve rates and lingering geopolitical tensions between the U.S. and Iran...Marketsread more
Amazon announces the opening of the Amazon Professional Beauty Store to offer professional stylists, barbers and aestheticians beauty supplies typically found in salons and...Marketsread more
Goldman Sachs says there's still life left in value investing, especially with the Federal Reserve set to cut rates again.Marketsread more
Bitcoin is approaching its highest level in more than a year after soaring above the $11,000 level this weekend.Bitcoinread more
McDonald's says it gained market share in the informal-eating-out category for the first time in five years, thanks to its nationwide launch of fresh beef.Restaurantsread more
Six women are running for president. Five of them are career politicians. Then there's Oprah-approved self-help guru Marianne Williamson.2020 Electionsread more
The major indexes have stretched to all-time highs and are riding one of their best first halves in decades.Trading Nationread more
Investors can expect to see "decent" returns on home improvement stocks despite waning consumer sentiment in housing, analyst Alvaro Lacayo told CNBC on Thursday.
"If you look at the average age of the U.S. housing stock you're talking about 40 years plus," the vice president of equity research at G.research said on "Power Lunch. " G.research is a brokerage firm outside New York City.
Some analysts think demand could drop this year because a large number of homeowners take on remodeling projects after buying a new property. With fewer homes selling, home values easing, and mortgage rates rising, they predict home renovations could fall to their lowest levels in three years.
That could put a strain on companies such as Home Depot, Lowe's, Masco and Sherwin-Williams. Earlier this month, the paint maker revealed in a preliminary report that its fourth-quarter sales grew just 2 percent compared with Wall Street's 5 percent estimate and 2018 earnings would miss expectations.
Lacayo expects the market to soften in the first and fourth quarters of this year as house appreciations fall to as much as 3 percent. However, he still thinks that's a "fairly healthy level" to support remodeling growth. He also saw positives that Sherwin-Williams and Lennar reported that sales were higher in December than in November.
"Timing when demand will come back from this pause is a little bit challenging, and I think it'll take at least several months to sort of figure out," Lacayo said. "You'll see that come through in the earnings releases as we go forward, that there'll be a certain amount of uncertainty at least for the first few months."
Most home improvement stocks are expected to report fourth-quarter earnings next month.