div > div.group > p:first-child"> The group has been on a tear in 2019, with the SPDR S&P Homebuilder ETF having its best quarter since 2012, up over 18 percent, and the iShares U.S. Home Construction ETF tacking on a 19 percent gain for the year.
"The one thing that really concerns me is in the new housing numbers," Michael Bapis, managing director of Vios Advisors at Rockefeller Capital Management, told CNBC on Wednesday."They were down 8 percent in February, which is the worst it's been in eight months, so we're taking our profits in this space."
"[The sector has] run up significantly, roughly 30 percent in the last quarter and annually, so I would just take our profits, sit back, wait 'til the summer shakes out and then see what happens in the fall," Bapis said. "The strategist in me [is] concerned about the housing starts number from the other day," he said in the"Trading Nation" segment."If that continues to fall, we've got a problem, because every time you've seen a sustained decline in housing starts, it's always followed by a recession, going back to the 1960s. However, on the technical side, it looks quite good.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Home builders demanding livable wages?
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Flashing amber': Global stocks tumble, bonds rally on U.S. recession riskInvestors ditched shares on Monday and fled to the safety of bonds as risk asset... This will elect a Democrat
Source: Reuters - 🏆 2. / 97 Read more »
Trade and Brexit risks could cost US its historic 2019 rally: Market watcherVictoria Fernandez of Crossmark Global Investments is keeping her investment strategy nimble to cope with geopolitical headwinds.
Source: CNBC - 🏆 12. / 72 Read more »
The stock market rally got mugged by economic realities and a global slowdownThe bull narrative is running up against reality. If this weak global economic growth stays with us, it means stocks are pricey at this level.
Source: CNBC - 🏆 12. / 72 Read more »
Lululemon stock rallies after company tops Q4 viewsShares of Lululemon Athletica Inc. rallied more than 8% on Wednesday after the apparel company reported fourth-quarter earnings and expectations for...
Source: MarketWatch - 🏆 3. / 97 Read more »
China stocks rally on investor optimism, but corporate earnings lagA sharp rally in Chinese stocks this year has been driven more by investor optim... On the one hand, they, in the USA and Western Europe, have criticised and blamed China all the time; on the other hand, they observe and follow with attention and excitement the Chinese indices.
Source: Reuters - 🏆 2. / 97 Read more »
Stock Market Rally Trips on Global Growth FearsGlobal stocks and bond yields are facing fresh pressure as a recent soft patch in data spurs debate over whether the global economy is in the midst of a temporary dip, or headed toward a more serious downturn. For the people who actually read and not just tweet im here to make you thunk i said thunk with no direction tweets know its here!!
Source: WSJ - 🏆 98. / 63 Read more »