S&P 500 Makes History Breaking 2,000 Milestone Despite Housing News

TheStreet

History is being made as the S&P 500 breaks the 2,000 mark for the first time. U.S. stocks are rallying on hopes the European Central Bank will make more moves to stimulate Europe's economy. Troubling news from the housing market isn’t dampening the markets. Sales of new single-family home sales in July unexpectedly fell to the slowest pace since March. July’s median sales prices was the lowest since February. Home builder, Pulte (PHM), is up slightly in the session after buying the real estate assets of Dominion Homes. Dominion is one of the largest builders in Ohio and Kentucky. The deal was for an undisclosed amount. Shares of ANN (ANN) are up after being told to sell itself. The Wall Street Journal reported activist investors Engine Capital told the board the company is deeply undervalued and the parent of Ann Taylor stores could be bought for around $2.5 billion. GrubHub (GRUB)is slipping. The online food ordering company was briefly halted in today’s trading before announcing it filed with the S-E-C to sell 10 million of its shares in a secondary offering.