Five Things You Need to Know: Housing Slump Well Contained; Well Contained to Existing Home Sales; Well Contained to Largest Cement Producer in U.S.; Well Contained to Spain; Well Contained to Auto Sales

By Kevin Depew  APR 24, 2007 11:30 AM

What you need to know (and what it means)!

 


Minyanville's daily Five Things You Need to Know to stay head of the pack on Wall Street:

1.  Housing Slump Well Contained

If ever you find yourself beginning to doubt that problems in the economy related to housing are not well contained, just sit down and listen for a moment.  Because soon enough a Federal Reserve official or the US Treasury Secretary will remind you that housing problems are indeed "well contained." Take a look.

 It's well contained to the following...


2.  Well Contained to Existing Home Sales

Existing Home Sales fell 8.4% in March, below expectations for a decline of 4.3% according to the National Association of Realtors.


3.  Well Contained to Largest Cement Producer in U.S.

Cemex SA (CX), the world's third-largest cement producer, said first-quarter profit fell 21% as U.S. sales were hurt by wait for it... wait for it... the housing slump.


4.  Well Contained to Spain

Spanish stocks fell 2% following a plunge in shares of real estate developer Astroc Mediterraneo SA fueled concern about the strength of the country's housing market, Bloomberg reported.


5.  Well Contained to Auto Sales

General Motors (GM) Vice Chairman Bob Lutz says he expects sales of new vehicles to show a dip due to... wait for it... wait for it... the housing slump.

No positions in stocks mentioned.

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