The housing market got a bit of bad news Monday morning, with pending home sales falling faster than expected in January.

Consumer confidence has been on the rise over the past couple of months, but that boost in confidence did not carry over to pending home sales, which were down 2.8% during the month of January.

Continue reading Pending Home Sales Down in January

Pending Home Sales Down in January originally appeared on BloggingStocks on Mon, 28 Feb 2011 12:00:00 EST. Please see our terms for use of feeds.

With earnings season in full swing, the FOMC meeting on interest rates, the GDP estimate, and housing numbers due out, the coming week is shaping up to be a busy one. So here's a peek at what's on the economic calendar.

Monday

Quarterly reports from American Express (AXP) and McDonald's (MCD) will highlight Monday. Amgen (AMGN), CSX (CSX), Halliburton (HAL) and Texas Instruments (TXN) are also expected to report strong earnings results.

Continue reading Week in Preview: GDP, FOMC Meeting, Housing Data and Lots of Earnings

Week in Preview: GDP, FOMC Meeting, Housing Data and Lots of Earnings originally appeared on BloggingStocks on Sun, 23 Jan 2011 12:30:00 EST. Please see our terms for use of feeds.

Continue reading U.S. Stock Futures Down as Investors Await Jobless, Home Sales Data

U.S. Stock Futures Down as Investors Await Jobless, Home Sales Data originally appeared on BloggingStocks on Thu, 20 Jan 2011 08:30:00 EST. Please see our terms for use of feeds.

According to Standard & Poor's (S&P) Case-Shiller home price index, home prices are falling faster in the nation's largest cities.

The index dropped 0.6% in September compared to August (some are reporting 0.7%), with 18 of the cities recording monthly price declines. The largest drop was reported in Cleveland, Ohio, which saw prices drop 3% compared to a month earlier. The only two cities where prices increased were Washington DC (thanks mainly to government spending) and Las Vegas (which has been battered in recent reports).

Continue reading Case-Shiller Index Data Shows Home Prices Are Falling

Case-Shiller Index Data Shows Home Prices Are Falling originally appeared on BloggingStocks on Tue, 30 Nov 2010 11:30:00 EST. Please see our terms for use of feeds.

Among the quarterly results scheduled for this holiday-shortened week, investors may be thankful for the earnings results from Tyson Foods (TSN). The Arkansas-based poultry and meat producer reported on its sustainability efforts and also was named McDonalds' (MCD) supplier of the year during its fiscal fourth quarter. Analysts polled by Thomson Reuters forecast earnings for that period to have doubled from a year ago to 56 cents per share.

Tyson is also expected to post revenue of $7.8 billion for the three months that ended in September, which is 7.4% more than in the same period of fiscal 2009. And the consensus estimate for the full year calls for earnings of $2.08 per share (+87.0%) and revenue of $28.7 billion (+7.3%). Tyson's earnings have been better than expected in recent quarters, beating consensus estimates by as much as 24 cents per share.

Continue reading Week in Preview: Tyson Foods, Analog Devices, Deere Serve Up Earnings

Week in Preview: Tyson Foods, Analog Devices, Deere Serve Up Earnings originally appeared on BloggingStocks on Sun, 21 Nov 2010 12:30:00 EST. Please see our terms for use of feeds.

Tuesday morning started off on a bearish note, which intensified after the latest news release from the S&P/Case-Shiller home price index. The index reported that home prices dropped 0.2% during August, which brought an end to four straight months of gains.

The Case-Shiller home price index was termed "disappointing" by those compiling the data. In 15 of the 20 metropolitan areas tracked by the index, home prices dropped compared to July. In addition, the data showed that annualized price growth slowed to 1.7% from July's 3.2%. The only cities that showed an increase in home prices were Chicago, Detroit, Las Vegas, New York and Washington D.C.

Continue reading Case-Shiller Index Adds Bearish Momentum to the Market

Case-Shiller Index Adds Bearish Momentum to the Market originally appeared on BloggingStocks on Tue, 26 Oct 2010 11:00:00 EST. Please see our terms for use of feeds.

Alcoa (AA), Marriott (MAR) and Yum! Brands (YUM) kick off the new earnings season this week. Analysts surveyed by Thomson Reuters are looking for moderate year-over-year earnings and revenue growth in the third quarter from each of these dividend payers.

Note that Marriott and Yum! Brands have exceeded consensus estimates in recent quarters and have First Call consensus buy recommendations as well. They are also trading near their 52-week highs, while Alcoa shares are closer to the 52-week low despite a 22% rise in the past three months.

Continue reading Week in Preview: New Earnings Season, Employment Data and More

Week in Preview: New Earnings Season, Employment Data and More originally appeared on BloggingStocks on Sun, 03 Oct 2010 12:30:00 EST. Please see our terms for use of feeds.

During June, home prices increased for the third-straight month, lending a bit of momentum to the bulls Tuesday morning. The problem is that the downward tide of the market was too much for this news to overcome, but taking this news in conjunction with other news could put a positive spin on the day.

The Standard & Poor's/Case-Shiller home price index posted a 1% increase in June compared to May. Comparing the number to a year ago, the index increased 4.2%. On a quarter-over-quarter basis, the second-quarter numbers were 4.8% better than the first quarter. Of the 20 cities surveyed, 17 saw monthly price increases -- Las Vegas was the only city where prices fell.

Continue reading Home Prices Log Third-Straight Monthly Increase

Home Prices Log Third-Straight Monthly Increase originally appeared on BloggingStocks on Tue, 31 Aug 2010 12:30:00 EST. Please see our terms for use of feeds.

Wednesday morning got off to a slow start for the market as a whole, and the July home sales report didn't going to help matters much. According to the Commerce Department, new home sales plummeted 12.4% in July compared to June.

The drop brings the seasonally adjusted annual sales pace to 276,600, far short of the expected pace of 330,000. Not only is this pace short of the expected result, but it is the slowest pace on record, which dates back to 1963.

Continue reading New Home Sales Fall to Record Low in July

New Home Sales Fall to Record Low in July originally appeared on BloggingStocks on Wed, 25 Aug 2010 11:00:00 EST. Please see our terms for use of feeds.

Continue reading Oil Prices Rebound Despite Bearish Inventory Report

Oil Prices Rebound Despite Bearish Inventory Report originally appeared on BloggingStocks on Wed, 26 May 2010 18:00:00 EST. Please see our terms for use of feeds.

Continue reading Closing Bell: Europe Still a Drag on the Market (C, ALU, MSFT, GENZ, AIG, IRE, NBG, BPOP)

Closing Bell: Europe Still a Drag on the Market (C, ALU, MSFT, GENZ, AIG, IRE, NBG, BPOP) originally appeared on BloggingStocks on Mon, 24 May 2010 16:00:00 EST. Please see our terms for use of feeds.

Continue reading New Home Sales Soar in March

New Home Sales Soar in March originally appeared on BloggingStocks on Fri, 23 Apr 2010 17:40:00 EST. Please see our terms for use of feeds.

According to an Associated Press survey of leading economists, jobs and home values will stay unstable into 2011. The survey indicates that the recovery is going to continue trudging along through the year, which should prompt the Federal Reserve to keep interest rates near zero. Three-fourths of the economists surveyed believe that the interest rates will stay low until the final quarter of 2010.

Other highlights from the survey (if you can call them highlights) include the belief that the unemployment rate will stay "stubbornly high" during the next two years. The group believes that the unemployment rate will drop to 9.3% by the end of this year and will drop to 8.4% at the end of 2011.

Continue reading Survey: Economic Recovery to Drag Through 2011

Survey: Economic Recovery to Drag Through 2011 originally appeared on BloggingStocks on Mon, 12 Apr 2010 12:10:00 EST. Please see our terms for use of feeds.

The race is on for first-time home buyers to close their contracts before April 30. That is when the $8,000 first-time home buyers credit ends. Buyers who are selling a home and buying a new home are eligible for $6,500.

This last minute rush has bumped up the National Association of Realtor's Pending Home Sales Index 8.2% to 97.6, from 90.2 in January. The index is 17.3% higher than February 2009.

Continue reading Pending Home Sales Index Surges 8.2%

Pending Home Sales Index Surges 8.2% originally appeared on BloggingStocks on Mon, 05 Apr 2010 13:00:00 EST. Please see our terms for use of feeds.

The housing market is still in the doldrums. Existing home sales fell .6% in February to an annual rate of 5.02 million, as reported by the National Association of Realtors.

This number is important because existing home sales account for 90% of the market. The Obama administration extended the first-time home buyer program until this June 30 for contracts signed before April 30. So far there has been little or not bump up in sales

Another disheartening statistic is a jump of 9.5% in previously owned homes on the market to 3.59 million. At this rate it would take 8.5 months to sell these homes.

Continue reading Existing Home Sales Fall in February

Existing Home Sales Fall in February originally appeared on BloggingStocks on Tue, 23 Mar 2010 13:00:00 EST. Please see our terms for use of feeds.

According to the National Association of Realtors (NAR), resales of U.S. homes and condominiums slipped 7.2% during January. This drop brought the seasonally adjusted annual rate to 5.05 million, which was the lowest in seven months. January's drop marks the second-straight month of drops, following up December's record plunge of 16.2%.

A spokesman for NAR noted that this is "not good news. ... There is rising concern about the strength of the housing recovery." The group is holding out hope that the Spring will be better, as the latest tax break will expire and potential job growth could help push home sales higher. The good news is that the pace of sales in January outpaced those from a year earlier by 11.5%. The current inventory of unsold homes stands at a nearly 8-month supply at the current sales pace.

Continue reading Existing Home Sales Drop to a Seven-Month Low

Existing Home Sales Drop to a Seven-Month Low originally appeared on BloggingStocks on Fri, 26 Feb 2010 12:00:00 EST. Please see our terms for use of feeds.

You've often seen the ads: "Hurry, sale ends tomorrow." A similar pattern occurred in pending home sales. Buyers were in a rush to take advantage of the $8.000 tax credit for first time buyers before the program ended in October. In October the National Association of Realtors Pending Home Sales Index stood at 114.3

The temporary end to the tax credit program created a vacuum. The Pending Home Sales Index fell to 96, for a drop of 16%. Nevertheless, the index was 15.5% higher than November 2008.

Continue reading Pending Home Sales Slump 16% in November

Pending Home Sales Slump 16% in November originally appeared on BloggingStocks on Tue, 05 Jan 2010 15:20:00 EST. Please see our terms for use of feeds.

After haggling since September the US Senate finally passed an extension for unemployed persons and extended the credit for first time home buyers.

The situation for unemployed persons is dire. Here are just a few facts about their current situation:

• We have 15 million unemployed vying for just three million available jobs.
• 200,000 persons lost their benefits since September
• 7000 persons a day are losing their benefits.
• More than 1/3 of the unemployed have been out or work for at least six months.

Continue reading US Senate extends jobless benefits and first time home buyer credit

US Senate extends jobless benefits and first time home buyer credit originally appeared on BloggingStocks on Thu, 05 Nov 2009 17:20:00 EST. Please see our terms for use of feeds.

Existing homes are starting to move again. Last month, home resales hit their highest level in more than two years, thrashing expectations. The 9.4% increase in home resales -- which entails a seasonally adjusted rate of 5.57 million -- is attributed largely to the deadline for the first-time home buyer tax credit.

According to the National Association of Realtors, the annualized, seasonally adjusted rate is up from the 5.1 million in August and far ahead of the 5.35 million expected for September (based on economists surveyed by Thomson Reuters).

Continue reading Home resales up 9.4% in September, prices fall

Home resales up 9.4% in September, prices fall originally appeared on BloggingStocks on Sat, 24 Oct 2009 15:10:00 EST. Please see our terms for use of feeds.

We've watched stock market numbers bounce around for two years. Unemployment stats have served as unpleasant reminders that, for some, leading indicators haven't translated to reality. We look for so many ways to understand the brutal economic environment with which we've had to contend, and all the choices can make your head spin. So, let's make it simple. Here are eight ways to tack a label onto the financial world in which we live.

1. Lost market value
Total stock market losses from October 2007's top to March 2009's bottom: $11.2 trillion
Total gains in the stock market since the bottom: $4.6 trillion
Lost ground: $6.6 trillion

2. Bad days
Percentage of the 10 worst days in history for the Dow Jones Industrial Average that happened in 2008, by point drops: 60%
Percentage of the 10 worst days in history for the DJIA that happened in 2008, by percentage drops: 30%

3. Mutual funds
Value of mutual fund assets at the end of 2007: $6.5 trillion
... and a year later: $3.7 million
Lost value: $2.8 trillion

But, it got a little better at the end of August 2009: $4.5 trillion (value of assets)

Continue reading Eight ways to define the recession

Eight ways to define the recession originally appeared on BloggingStocks on Mon, 12 Oct 2009 14:50:00 EST. Please see our terms for use of feeds.