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Homebuilders seeing 'very strong' demand amid pandemic: NAHB CEO

National Association of Home Builders CEO Jerry Howard discusses housing demand as people move from urban to suburban areas.

Latest Stories

  • 3 Stocks That Could Win Big As The Biden Administration Takes The Wheel

    This year has already started with a bang, and with a “blue wave” looming over the United States, three industries could be ready to explode

  • Your next stimulus check — for $1,400 — is about to start moving closer

    Congressional leaders plan to get "right to work" on it. How soon might you get the cash?

  • Bitcoin Sells Off on Bearish Sentiment, Yellen Worries

    The sell-off also led to major corrections for other cryptocurrencies including ether, stellar, xrp and chainlink.

  • Biden to Bar Keystone Pipeline, Reversing Early Trump Move

    (Bloomberg) -- Joe Biden will cancel the Keystone XL oil pipeline hours after becoming president on Wednesday, killing once again a cross-border project that had won a four-year reprieve under his Republican predecessor, Donald Trump.In one of his first major environmental actions, Biden will revoke TC Energy Corp.’s pipeline permit via an executive order because it doesn’t “serve the U.S. national interest,” according to fact sheet from his transition team.The move brings Keystone’s fate full circle, repeating a decision made in 2015 by President Barack Obama to keep the pipeline from crossing the border. Trump reversed that in 2017 on his fourth full day in office over the objections of environmental groups.TC Energy said it was “disappointed” and would suspend work on the project, leading to the layoff of thousands of workers. The decision overturns “an unprecedented, comprehensive regulatory process that lasted more than a decade and repeatedly concluded the pipeline would transport much-needed energy in an environmentally responsible way,” said the Calgary-based company.TC Energy shares pared losses after initially trading at $56, down 1%, on the news.Environmentalists are counting on the latest rejection -- coming more than a dozen years since the pipeline was first proposed -- to stick. They argue the project would provide an outlet for heavy Canadian oil sands crude extracted in Alberta through particularly energy-intensive processes that ratchet up its carbon footprint.“Putting a stop to the dirty and dangerous Keystone XL tar sands pipeline immediately and once and for all would be an important first step and testament to the leadership of the diverse grassroots movement that has long pushed to stop it and other harmful pipelines,” said Tiernan Sittenfeld, a senior vice president with the environmental group League of Conservation Voters.Biden promised the action on the campaign trail, yet his formal step still provoked outrage from oil industry leaders, some Canadian interests and labor unions that support the project.“The Biden administration has chosen to listen to the voices of fringe activists instead of union members and the American consumer on Day 1,” said the United Association of Union Plumbers and Pipefitters in an emailed statement based on news reports before the action.Construction of Keystone XL already began last year, jump started with a $1.1 billion investment by the province of Alberta. Whole segments of the line, including one that crosses to U.S.-Canadian border, have already been built.TC Energy has worked to make the project more palatable to a Democratic administration, inking labor agreements with four major pipeline unions last August, agreeing to sell an equity stake in the line to indigenous communities along the route and promising to power it entirely with renewable energy.Still, Keystone XL has been a lightning rod for controversy and a litmus test for environmentalism almost since it was first proposed in 2005. The 1,179 mile (1,897 kilometer) segment is designed to move oil from Alberta through Montana, South Dakota and Nebraska, then connect with an existing network feeding crude to the Gulf Coast. The line would carry as much as 830,000 barrels of oil a day.Opponents argue it will stimulate oil sands development, contributing to climate change.Years ago, proponents of the controversial crude pipeline argued that more of Canada’s cheaper, heavy crude would help fuel producers on the U.S. Gulf Coast wean off supplies from countries like Venezuela or the conflict-prone Middle East.But refiners in Texas and Louisiana have become increasingly flexible, using more of the abundant light oil from shale fields. Plus, Canadian crude’s price advantage has narrowed, and imports from the country have roughly doubled in a decade to a steady flow of more than 3.5 million barrels a day, without Keystone XL.“It’s not an issue for refiners,” said Robert Campbell, head of oil products research at Energy Aspects Ltd. “They can switch into domestic light. The hurt would be on oil sands producers.”Alberta Premier Jason Kenney on Tuesday urged Canadian Prime Minister Justin Trudeau to take steps to save the permit, saying its revocation “would damage the Canada-U.S. bilateral relationship.”Keystone XL was one of only a handful of energy and mining projects Biden took an explicit stand against while on the campaign trail. Environmentalists emboldened by his move on Keystone are already pressuring him to revoke a critical authorization allowing continued operation of Energy Transfer LP’s Dakota Access oil pipeline and take action against Enbridge Inc.’s plan to replace and expand its aging Line 3 pipeline from Alberta to Superior, Wisconsin.From the archive -- Why the Keystone Project Is Controversial: QuickTake“It’s exciting news,” said Dallas Goldtooth, an organizer with the Indigenous Environmental Network. “Now what are you going to do about Line 3 and the Dakota Access pipeline? We are happy, but we want to see what comes next.”(Updates with TC Energy reaction and shares from fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • A survey says we're keeping too much money in cash — do this instead

    You can be too safe with your money, even during a pandemic.

  • How the stock market and economy performed under Democratic presidents

    Historical data shows the stock market does well when Democrats are in charge.

  • A ‘Social Security bridge’ may be the best option for generating lifetime income from 401(k) plans

    Individual retirement accounts (IRAs) and 401(k) plans provide little guidance on how to turn accumulated assets into income. What if I'm in my 40s and don't have a retirement fund? Some experts say that by age 40 you should have at least three times your salary saved for retirement. Alternatively, they could use their assets to delay claiming Social Security, effectively buying more annuity income.

  • Why Netflix stock is going haywire after its latest earnings report

    This is why Netflix shares are really going bonkers after the company's latest earnings report.

  • 8 Quality Dividend Stocks for Durable Growth and Income

    From "Dividend Aristocrats" to special situations, Ben Reynolds -- along with his co-editors Bob Ciura and Nikolaos Sismanis -- provides in-depth research on high-quality stocks through its four top-ranked newsletters. Scale is a critical competitive advantage in the industry. The company's durable competitive advantage -- and shareholder friendliness -- is on display with its long dividend history.

  • If You Bought Tesla Stock Instead Of A Model S At Launch, Here's How Much You'd Have Now

    Tesla Motors began deliveries to customers of its Model S in June 2012.The car has changed the face of electric vehicles and helped turn Tesla into one of the most well-known brands and stocks.The Stock Or The Car? In June 2012, the 300-mile range version of the Tesla Model S retailed at $77,400.If a customer had chosen to invest in Tesla Inc (NASDAQ: TSLA) -- the company rather than the physical car -- at that time, they would likely be very happy with the outcome.Related Link: 5 Things You Might Not Know About Elon MuskOn June 22, 2012, Tesla's stock opened at a split-adjusted $6.796. A $77,400 investment would have been good for 11,389 shares of Tesla stock.Holding onto those shares over the next eight-plus years would give a customer the ability to buy many Tesla cars.The value of the 11,389 Tesla shares is $9,409,136 as of Jan. 15.Many Tesla car owners have also invested in the company. The investments in the company over the years have turned Tesla car owners into millionaires along the way. TSLA Price Action: Tesla shares ended Tuesday's session up 2.23% at $844.55. Photo courtesy of Tesla.See more from Benzinga * Click here for options trades from Benzinga * Investors Want A Chamath Palihapitiya ETF And They Might Get It Soon * Short Seller Andrew Left Goes Sour On Lemonade, Says Company Lies To Shareholders(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • 7 of IBM Watson's Top Stock Picks

    IBM Watson picked these stocks to outperform.Artificial intelligence will likely revolutionize the global economy in the next several decades, and Wall Street is not immune to the AI disruption.

  • United Airlines Stock Falls Late As Q4 Loss Misses, Q1 Outlook Weak

    United Airlines reported a deeper fourth-quarter loss than expected and gave weak Q1 views Wednesday.

  • Six Stocks to Buy for the Next Oil-Price Surge

    Oil companies are about to report downbeat results for the fourth quarter, but Goldman Sachs analyst Brian Singer says the figures have the potential to lift the stocks.

  • Stock Market Today With Jim Cramer: Buy Ford

    Jim Cramer discusses the latest stock market news including Ford stock, Procter & Gamble's earnings and the executive orders by president Joe Biden.

  • Obalon Therapeutics stock soars to lead all gainers on massive volume after ReShape merger deal

    Shares of Obalon Therapeutics Inc. blasted six-fold higher on massive volume in afternoon trading Wednesday, after the weight loss technologies company announced an agreement to merge with weight loss solutions company ReShape Lifesciences Inc. . Obalon's stock rose 503.4% toward the highest close since JUne 2019, while trading volume soared to 395.4 million shares, compared with the full-day average of about 626,000 shares. The stock was the biggest gainer and most active on major U.S. exchanges on Wednesday. ReShape shares, which currently trade over the counter, rose 155%. When the merger is completed, ReShape shareholders will own 51% of the combined entity, and the company will be renamed Reshape Lifesciences Inc. and will trade on the Nasdaq under the ticker symbol "RSLS." "We are excited with this opportunity to add Obalon's FDA approved Balloon System to ReShape's line of minimally invasive weight-loss solutions while also expanding our market reach," said ReShape Chief Executive Bart Bandy. Obalon's stock has now rocketed 922.5% over the past three months while ReShape shares have soared 187.3% and the S&P 500 has gained 12.0%.

  • Ethereum surges near all-time highs, may rally 650% to $10,500: analysts

    Ethereum, the second largest cryptocurrency behind bitcoin, could see a 650% rally to hit $10,500, according to analysts at Fundstrat.

  • Billionaire investor: Enjoy the bull market while it lasts

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  • Why This ATV, Motorcycle Maker Is An Overlooked Electric Vehicle Stock: Analyst

    Polaris is poised to become the dominant maker of electric powersports vehicles, Morgan Stanley said.

  • Plug Power Drops After Kerrisdale Unveils Short Position

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  • Intel Says It Will Top Sales Guidance. Here’s How Much the Beat Could Be.

    Susquehanna Financial Group analyst Christopher Rolland calculated that Intel would generate $600 million to $700 million more in fourth-quarter sales than expected.