The US market open negative yesterday on worries over cpi datas but recovered in the after noon. fed go on lowered lowerd and there in no room left now. Stocks rise after the Federal Reserve signalled a willingness to keep cutting interest rates & investors seemed to absorb unpleasant signals
Oil closed above $100 for the first time Tuesday killing a stock market rally and renewing wall streets inflation concerns.
Reality… while the up tick in housing starts could indicate a bottom investors can't be sure until they get further data, including figures on sales of new and existing homes due next week!
Inventories remain at high levels which is worrisome.
Tough lending norms, an unfavorable primary market and sub prime woes may squeeze the money flow to the domestic property market.
Until the inventory issue gets addressed its going to be hard for starts to start moving higher.
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