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Investing.com - The S&P 500 closed flat on Wednesday as the Federal Reserve's minutes pointed to further monetary tightening, while a slump in oil prices pressured energy stocks.
Investing.com - Home Depot (NYSE:HD) and other housing-leveraged stocks fell in midday trading following disappointing data on home construction.
Also, housing starts fell more than expected last month, marking the second straight monthly decline. "Our key concern is that home prices will continue to moderate, at least temporarily, as higher rates weigh on affordability, and inventory creeps up," Credit Suisse's Seth Sigman says.
NVR's disciplined business model and solid top-line performance are likely to boost Q3 results. However, rising land and labor costs mar its prospects.
The company created two new vice president positions and announced the president will become a division president for Lennar and Village Builders, which are related entities.
Rising interest rates on mortgage loans are deterring home buyers, and that has translated into plunging sales, earnings and stock prices for the homebuilding industry, an important engine of economic growth. Mark Zandi, chief economist at Moody's Analytics, had this to say, as quoted by CNBC: "Every basis point rate rise already is affecting housing. A number of stocks in homebuilding and related industries are in a bear market of their own, having plunged by 20% or more from their 52-week highs. Among these are Lennar Corp. ( LEN), D.R. Horton Inc. ( DHI), PulteGroup Inc. ( PHM), LGI Homes Inc. ( LGIH), Toll Brothers Inc. ( TOL) and lumber supplier Weyerhaeuser Co. ( WY).
Rising prices and accelerating interest rates are a "one-two punch" to homebuyers, Lennar Executive Chairman Stuart Miller says. Homebuilder stocks have taken a direct hit from the rising interest rates rattling financial markets this month, but Miller says builders could see a boost from pent up demand and wealthier buyers. Rising prices and accelerating interest rates are a "one-two punch" to homebuyers, Lennar Executive Chairman Stuart Miller told CNBC on Thursday.
"I'm not saying that the Fed's gone crazy," the "Mad Money" host says. As the stock market continued its volatile losing streak on Thursday, with the market's "fear gauge" hitting its highest level since February, CNBC's Jim Cramer wanted to clear up some of the confusion around why stocks were falling. After all, with numerous indicators and the Federal Reserve indicating that the economy is strong, investors are probably wondering why the market would take such a drastic hit.
NVR (NVR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Three homebuilders new to Rancho Cordova are planning projects for 2019 and beyond, according to city officials who take it as a positive sign.
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Alexis Christoforous to discuss the latest market moves.