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Housing Stocks Escape the Hawk's Wrath
End of Day Roundup 02/20: Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Stocks pulled a pop-and-drop on Friday as hawkish comments from a Fed official soured the mood.

January new-home sales were 4.62 million, just a hair shy of the 4.67 million consensus.

However, housing stocks reacted positively to the number, with the iShares US Home Construction ETF (NYSEARCA:ITB) rising an impressive 1.0%, putting it ahead of all other sectors for the day.

This indicates that expectations heading into the report were fairly low, courtesy of 2014's stream of mediocre economic data and sluggishness in other economically sensitive sectors like retail and financials.

Housing stocks were also boosted by the 2-bps drop in the 10-year US Treasury to 2.73%.

And with Friday's gain, housing is handily outperforming the S&P 500 (INDEXSP:.INX) year-to-date, defying skeptics fixated on the impact of the polar vortex and the shaky employment market.

The broader markets popped modestly in the early going, with the S&P nearly hitting Wednesday's intra-week high, but the index sold off to finish down 0.2% at 1836.25.

Dallas Fed President Richard Fisher spoke in Austin, Texas, today, giving typically hawkish views on the Fed's asset-purchasing schedule. Additionally, Fisher discussed a change in attitude at the Fed, as in the future, forward guidance will play a bigger role in monetary policy rather than asset purchases.

Looking at individual stocks, Barnes & Noble (NYSE:BKS) rose 5.4% to $17.69 after investment company G Asset Management offered $672 million for a 51% stake in the book retailer.

On the negative side of the tape, Groupon (NASDAQ:GRPN) took a beating, falling a whopping 21.9% after reporting stronger-than-expected fourth-quarter results. However, the company warned of rising marketing costs, which weighed on sentiment.

And Hewlett-Packard (NYSE:HPQ) was in the green in early trading on its fiscal fourth-quarter earnings beat, but the stock reversed lower to finish down 1.3%.

Tomorrow's Financial Outlook

On Monday, we'll see the Chicago Fed National Activity Index at 8:30 a.m. EST, followed by the Dallas Fed Manufacturing Activity report at 10:30 a.m.

There are a handful of earnings reports on deck, including Palo Alto Networks (NASDAQ:PANW) and Hertz Global (NYSE:NTZ) before the open and Frontier Communications (NYSE:FTR) and Tenet Healthcare (NYSE:THC) after the close.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Housing Stocks Escape the Hawk's Wrath
End of Day Roundup 02/20: Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Stocks pulled a pop-and-drop on Friday as hawkish comments from a Fed official soured the mood.

January new-home sales were 4.62 million, just a hair shy of the 4.67 million consensus.

However, housing stocks reacted positively to the number, with the iShares US Home Construction ETF (NYSEARCA:ITB) rising an impressive 1.0%, putting it ahead of all other sectors for the day.

This indicates that expectations heading into the report were fairly low, courtesy of 2014's stream of mediocre economic data and sluggishness in other economically sensitive sectors like retail and financials.

Housing stocks were also boosted by the 2-bps drop in the 10-year US Treasury to 2.73%.

And with Friday's gain, housing is handily outperforming the S&P 500 (INDEXSP:.INX) year-to-date, defying skeptics fixated on the impact of the polar vortex and the shaky employment market.

The broader markets popped modestly in the early going, with the S&P nearly hitting Wednesday's intra-week high, but the index sold off to finish down 0.2% at 1836.25.

Dallas Fed President Richard Fisher spoke in Austin, Texas, today, giving typically hawkish views on the Fed's asset-purchasing schedule. Additionally, Fisher discussed a change in attitude at the Fed, as in the future, forward guidance will play a bigger role in monetary policy rather than asset purchases.

Looking at individual stocks, Barnes & Noble (NYSE:BKS) rose 5.4% to $17.69 after investment company G Asset Management offered $672 million for a 51% stake in the book retailer.

On the negative side of the tape, Groupon (NASDAQ:GRPN) took a beating, falling a whopping 21.9% after reporting stronger-than-expected fourth-quarter results. However, the company warned of rising marketing costs, which weighed on sentiment.

And Hewlett-Packard (NYSE:HPQ) was in the green in early trading on its fiscal fourth-quarter earnings beat, but the stock reversed lower to finish down 1.3%.

Tomorrow's Financial Outlook

On Monday, we'll see the Chicago Fed National Activity Index at 8:30 a.m. EST, followed by the Dallas Fed Manufacturing Activity report at 10:30 a.m.

There are a handful of earnings reports on deck, including Palo Alto Networks (NASDAQ:PANW) and Hertz Global (NYSE:NTZ) before the open and Frontier Communications (NYSE:FTR) and Tenet Healthcare (NYSE:THC) after the close.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

More From Minyanville Staff
Daily Recap
Housing Stocks Escape the Hawk's Wrath
End of Day Roundup 02/20: Today's financial recap and tomorrow's financial outlook.
Minyanville Staff    

Stocks pulled a pop-and-drop on Friday as hawkish comments from a Fed official soured the mood.

January new-home sales were 4.62 million, just a hair shy of the 4.67 million consensus.

However, housing stocks reacted positively to the number, with the iShares US Home Construction ETF (NYSEARCA:ITB) rising an impressive 1.0%, putting it ahead of all other sectors for the day.

This indicates that expectations heading into the report were fairly low, courtesy of 2014's stream of mediocre economic data and sluggishness in other economically sensitive sectors like retail and financials.

Housing stocks were also boosted by the 2-bps drop in the 10-year US Treasury to 2.73%.

And with Friday's gain, housing is handily outperforming the S&P 500 (INDEXSP:.INX) year-to-date, defying skeptics fixated on the impact of the polar vortex and the shaky employment market.

The broader markets popped modestly in the early going, with the S&P nearly hitting Wednesday's intra-week high, but the index sold off to finish down 0.2% at 1836.25.

Dallas Fed President Richard Fisher spoke in Austin, Texas, today, giving typically hawkish views on the Fed's asset-purchasing schedule. Additionally, Fisher discussed a change in attitude at the Fed, as in the future, forward guidance will play a bigger role in monetary policy rather than asset purchases.

Looking at individual stocks, Barnes & Noble (NYSE:BKS) rose 5.4% to $17.69 after investment company G Asset Management offered $672 million for a 51% stake in the book retailer.

On the negative side of the tape, Groupon (NASDAQ:GRPN) took a beating, falling a whopping 21.9% after reporting stronger-than-expected fourth-quarter results. However, the company warned of rising marketing costs, which weighed on sentiment.

And Hewlett-Packard (NYSE:HPQ) was in the green in early trading on its fiscal fourth-quarter earnings beat, but the stock reversed lower to finish down 1.3%.

Tomorrow's Financial Outlook

On Monday, we'll see the Chicago Fed National Activity Index at 8:30 a.m. EST, followed by the Dallas Fed Manufacturing Activity report at 10:30 a.m.

There are a handful of earnings reports on deck, including Palo Alto Networks (NASDAQ:PANW) and Hertz Global (NYSE:NTZ) before the open and Frontier Communications (NYSE:FTR) and Tenet Healthcare (NYSE:THC) after the close.

Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

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