Housing Recovery is Sending Stocks Upward
February 28, 2013
The newest signs that the housing market is recovering is sending stocks higher on Wall Street.
There was a huge jump in the Dow Jones Industrial average of close to 116 point which ended on Tuesday at 13,900 which led an increase in Home Depot of 6%. Home Depot is the nations large home improvement store chain which reported a huge increase in earnings.
Another sign that the housing market is recovering is that the government reported new home sales soared 16% in January which is the highest level seen since July of 2008.
This information sent homebuilders stocks higher such as Hovnanian that increased 11%.
Standard & Poor’s 500 saw a nine point gain to 1,496, while the Nasdaq increased 13 points to 3,129. On the New York Stock Exchange 2 stocks increased for each one that fell. The volume was average at 3.8 billion shares.
One Comment to Housing Recovery is Sending Stocks Upward
Comments
You actually make it appear really easy along with your presentation but I find this topic to be actually one thing which I think I would by no means understand. It sort of feels too complex and extremely broad for me. I am looking ahead to your subsequent submit, I will try to get the dangle of it!
Trackbacks/Pingbacks