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Monday, May 18, 2009 9:29:33 PM
Will Housing Starts Help Build Rally?
Markets are looking to new home data on Tuesday for signs of recovery while retail and tech firms report earnings.
Can housing fuel the rally? Investors will wake up Tuesday with crossed fingers as monthly data on new home construction come out before the start of trading and could lead global stocks. On Monday, U.S. markets jumped 3% on growing sentiment among home builders and better-than-expected earnings from home-improvement chain Lowe's.
Economists expect new home starts crept up to 525,000 in April from 510,000 in March. Rising construction could lend credence to those who think the markets bottomed earlier this year.
Lowe's ( LOW ) rival Home Depot ( HD ) will also report earnings Tuesday morning, with analysts expecting profits of 29 cents a share, down from 41 cents this time last year. The market may yet be surprised, though. Reacting to the Lowe's announcement, investors sent Home Depot shares up $1.62, or 6.6%, to $26.02.
http://www.forbes.com/2009/05/18/briefing-americas-outlook-markets-equities-housing.html
Markets are looking to new home data on Tuesday for signs of recovery while retail and tech firms report earnings.
Can housing fuel the rally? Investors will wake up Tuesday with crossed fingers as monthly data on new home construction come out before the start of trading and could lead global stocks. On Monday, U.S. markets jumped 3% on growing sentiment among home builders and better-than-expected earnings from home-improvement chain Lowe's.
Economists expect new home starts crept up to 525,000 in April from 510,000 in March. Rising construction could lend credence to those who think the markets bottomed earlier this year.
Lowe's ( LOW ) rival Home Depot ( HD ) will also report earnings Tuesday morning, with analysts expecting profits of 29 cents a share, down from 41 cents this time last year. The market may yet be surprised, though. Reacting to the Lowe's announcement, investors sent Home Depot shares up $1.62, or 6.6%, to $26.02.
http://www.forbes.com/2009/05/18/briefing-americas-outlook-markets-equities-housing.html
"The Chinese use two brush strokes to write the word 'crisis.' One brush stroke stands for
danger; the other for opportunity. In a crisis, be aware of the danger - but recognize the opportunity." -J. Kennedy
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