Wall Street Strategies
Hello! Sign in or Register

Afternoon Note

New Hope

By Karina Hernandez, Senior Research Analyst
5/15/2024 1:53 PM

The market is near its best level of the session as the latest Consumer Inflation report strengthened bets for a rate cut by the Fed.

While the stock market is cheering the news, bond investors are breathing a greater sigh of relief.

The eleven S&P 500 sectors are trading in green with Consumer Discretionary sitting at the bottom of the leaderboard today.

This morning, the National Association of Home Builders (NAHB) Survey hit its lowest level in four months, down to 45 and below economists’ expectations of 51. Traffic of potential buyers declined four points to 30. The NAHB Chief Economist Robert Dietz noted, “A lack of progress on reducing inflation pushed long-term interest rates higher in the first quarter and this is acting as a drag on builder sentiment.”



Log In To Add Your Comment

Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.