Good MorningInvestors got another round of good news on Tuesday that is sure to help fuel the market melt-up. The news, a round of economic data, includes key reads on manufacturing, services, and the housing economy. In all three cases, the data came in above expectations and points to a much stronger than expected recovery this year.
Perhaps the most important of the data is the housing data. The New Homes Sales figures jumped nearly 20% from the previous month as low levels of inventory and high demand drive the market. Looking forward, experts predict the demand for homes will outpace supply for many quarters to come.
What this means for the home builders is expanding business and growing profits. The S&P 500 advanced only a half percent on the news while the homebuilders gained more than 1.0%. Regardless, the technical outlook is bullish, a new all-time high is in sight for both indexes.
Featured: Tiny Glitch Could Kill 5G Technology (Legacy Research) 
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Markets | | | Right From The Horses Mouth
I may be showing my age and/or upbringing by using adages like “straight from the horses” mouth but so what? For those in the know, it rings true and is a saying every trader should take to heart. After all, who better to know the fundamental condition of a c... Read the Full Story |
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In the last few months, advice from investment companies and brokerage firms and the like on when to “get back in the game” has flown hard and fast. We couldn't go much over a week without someone insisting that now was the time to “buy the dip”. Now, one more voice has kic... Read the Full Story |
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Stocks | | | Restaurants have been among the biggest losers of the coronavirus pandemic. Forced to shudder their doors, the ability to offer curbside pickup and delivery has been a small consolation for many.
But Chipotle (NYSE: CMG) has bucked the trend. The fast-casual restaurant has been resilient in the fac... Read the Full Story |
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Markets | | | Shares of PVH Corp (NYSE: PVH) has started to retreat on its Q1 2020 earnings miss and rising fears of a second wave of COVID-19 stifling demand for its popular Calvin Klein, IZOD, Geoffrey Beane, Heritage and Tommy Hilfiger brands Read the Full Story |
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DraftKings (NASDAQ:DKNG), the world's top daily fantasy sports platform, has had little problem navigating the coronavirus pandemic. In fact, its thriving. But with American professional sports benched since early spring, how can this be?
At the onset of the COVID-19 outbreak, the stock's early 2... Read the Full Story |
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From Our PartnersWhat Apple's working on now could be far bigger than the iPhone...
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