All articles tagged with #housing data
China's property market crisis, ongoing since 2021, is expected to last until 2030, with the government actively suppressing negative information and restricting data releases to manage the narrative.
Housing data, especially building permits, is a critical indicator for predicting recessions, and recent declines to pandemic-era lows suggest increased recession risk, with the odds now at 48%. The housing market's weakness, driven by high inventories and rising mortgage rates, is raising concerns among economists and the Federal Reserve about potential economic downturns.
The stock market experienced mixed movements with the Dow wavering after President Trump fired Fed Governor Lisa Cook, while EchoStar surged over 75% on a spectrum license deal with AT&T, and Nvidia continued its gains. Other notable movements included Heico's strong earnings, Tesla's slight decline after a rally, and housing data showing a slowdown in price increases. Market sentiment remains cautious amid geopolitical and economic developments.
The S&P 500 experienced a rally driven by promising housing data, indicating positive economic signals that boosted investor confidence.
On Thursday, several companies, including TSMC, Netflix, D.R. Horton, and Nokia, will release their latest earnings, while leaders from the Federal Reserve, including Michelle Bowman, John Williams, and Raphael Bostic, are set to speak. Additionally, housing data in the form of existing home sales for March will be released. Investors are particularly interested in Netflix's subscriber growth and the impact of inflation data on the Fed's rate cut expectations.
The Dow Jones Industrial Average briefly dropped 125 points on Tuesday as better-than-expected housing data and the start of the Federal Reserve's two-day meeting influenced market sentiment. Tesla stock continued to fall, while CAT stock dived on earnings results. The Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index both exceeded expectations. Meanwhile, several companies, including Amgen, Arista Networks, Caterpillar, Lattice Semiconductor, Monolithic Power, Pinterest, and Pfizer, reported earnings. The Dow Jones Industrial Average dropped slightly, while the S&P 500 inched higher, and the Nasdaq composite lost ground. Oil prices saw a modest bounce, and the yield on the 10-year U.S. Treasury bond ticked lower.
The Dow Jones Industrial Average fell over 375 points after the release of key housing data, with May's housing starts and permits exceeding estimates. Chinese e-commerce giant Alibaba's shares declined 5% after CEO Daniel Zhang stepped down in a management shake-up. Shipping giant FedEx will report earnings after the close Tuesday, while electric vehicle maker Tesla rose modestly. Dow Jones tech giants Apple and Microsoft were lower after today's stock market open.
The 10-year Treasury yield fell by 5 basis points to 3.719% as investors absorbed stronger-than-expected housing data, with May housing starts beating expectations at 1.63 million. The 2-year Treasury yield also fell by 4 basis points to 4.683%. Investors are awaiting comments from Fed Chairman Jerome Powell for insight into the pace of future interest rate hikes, with the central bank expected to hike rates twice more this year and interest rates expected to be higher than previously anticipated throughout 2024 and 2025.
The Dow Jones Industrial Average fell while tech stocks surged after President Biden and House Speaker Kevin McCarthy reached a deal to raise the debt ceiling. Housing data showed an unexpected rise in home prices. Nvidia hit $1 trillion in market capitalization for the first time. The House is expected to vote on the debt-ceiling deal Wednesday night. Best stocks to buy include Arista Networks, ASML, Salesforce, Boeing, and Taiwan Semiconductor. Tesla stock rose after CEO Elon Musk's visit to China. Dow Jones leaders Apple and Microsoft also saw gains.
US stocks were mostly flat at Monday's market open ahead of another round of critical earnings. Bond yields were up, while gold futures held on to key levels above $2,000 per ounce. Earnings season will pick up steam, with another host of bank earnings on deck this week. Meanwhile, investor favorites Netflix, Lockheed Martin, Johnson & Johnson, and Tesla are expected to post quarterly earnings. Housing data will take center stage with NAHB Housing Index data, housing starts, existing home sales, and mortgage rate and application data all expected to be updated this week, offering a picture of the housing market amid a slightly softening rate environment.
US stock futures edged higher ahead of another round of critical earnings, with the S&P 500 and Dow Jones Industrial Average ticking up by 0.1%. Bond yields were up, while gold futures held on to key levels above $2,000 per ounce. Earnings season will pick up steam, with another host of bank earnings on deck this week, while investor favorites Netflix, Lockheed Martin, Johnson & Johnson, and Tesla are expected to post quarterly earnings. Housing data will take center stage with NAHB Housing Index data, housing starts, existing home sales, and mortgage rate and application data all expected to be updated this week, offering a picture of the housing market amid a slightly softening rate environment.
The European Central Bank's interest rate decision is being closely watched as a possible preview to the Federal Reserve's decision next week. The banking industry remains in turmoil, with Credit Suisse borrowing up to $54 billion from Switzerland's central bank. Despite volatility easing slightly this morning, it's important to monitor financial market and banking headlines. Housing data looked surprisingly strong, with February housing starts and building permits exceeding analysts' expectations. The Federal Reserve's rate-hiking cycle may pause or even be near its end due to banking industry concerns and weak economic data. The University of Michigan reports preliminary March Consumer Sentiment tomorrow morning.