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Yahoo
11 hours ago
- Business
- Yahoo
Housing Numbers Come in Mixed
Homebuilding news takes center stage this morning — in fact, this week has important housing data all through it — with Housing Starts and Building Permits for July pointing in two distinctly different directions. Pre-market futures were already showing some improvement from overnight lows, but have pointed north on the new data. Housing Starts, Building Permits Point to Big Differences Last month, Housing Starts came in at multi-month highs to 1.43 million seasonally adjusted, annualized units — well above the 1.29 million projected and the upwardly revised 1.36 million from the previous month. It's the highest level since February and the third-best month of the past 12, even as July mortgage rates remained high. Building Permits, on the other hand, came in much lower than estimated: 1.35 million, beneath the 1.39 million analysts were looking for and the identical downwardly revised 1.39 million from the prior month. It's the fourth-straight monthly downward move. The last time we saw new permits — a proxy for future housing starts — this low, we were in the Covid pandemic. The answers here are clear once we look beneath the surface: Multi-family housing grew by a whopping +11.6% month over month, +27% year over year. This, even with massive supply on the market (relative to single-family housing supply, anyway), which strongly suggests demand for apartment/condo living is still very high. Compare this with Single-family housing, which is still positive overall, but well off the Multi-family pace: +2.8% month over month and +8% year over year. As we mentioned, July mortgage rates were higher than they are currently, which not only keeps new potential single-family homebuyers on the sidelines, but it also keeps existing home sales at very low levels. We'll see new Existing Home Sales numbers for July this Thursday morning. Home Depot Posts Slight Q2 Misses Speaking of housing development, home improvement retail giant Home Depot HD has released Q2 results ahead of today's opening bell, and the company came up slightly short on both top and bottom lines. Earnings of $4.68 per share were 3 cents short of the Zacks consensus, for a -0.64% earnings surprise. It's also the second-straight earnings miss for Home Depot. Revenues of $45.38 billion in the quarter was also a slight miss from expectations, by -0.5%, though still up nearly +5% year over year. The company also kept its fiscal year guidance in place, which has helped boost the stock +1.6% in today's early trading. This is more than double what the shares have earned year to date. What to Expect from the Stock Market Today Fed Vice Chair Michelle Bowman — one of two dissenters at the last Federal Open Market Committee (FOMC) meeting last month, as she voted for a 25 basis point (bps) interest rate cut — makes a couple of appearances today. This is a day ahead of the release of the minutes from that FOMC meeting. Analysts will be parsing language and reading tea leaves to depict how likely a rate cut may be coming at the next FOMC meeting September 16 and 17. The housing narrative continues after today's close, when luxury homebuilder Toll Brothers TOL reports fiscal Q3 earnings results. Estimates are for a slight year-over-year pullback on the bottom line (-0.28%) on revenues +4.56% higher than the year-ago quarter. Toll Brothers has beaten earnings estimates in three of the past four quarters. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Home Depot, Inc. (HD) : Free Stock Analysis Report Toll Brothers Inc. (TOL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
20-05-2025
- Business
- Yahoo
Leading Economic Indicator Drops in April
Pre-market futures are flat following a sixth-straight up-day on the S&P 500. Market sentiment — likely due to partiality toward positive trade deals in the works with global trading partners of the U.S. — has been positively buoyant, leading to a 'V'-shaped rally. As of yesterday, markets blew through negative economic sentiment, but this morning the appetite seems to be Dow is +0.03% and the S&P 500 is -0.17% at this hour. The tech-heavy Nasdaq, which has grown nearly +20% on this near-term recovery, is -0.28% at this hour in early trading. The small-cap Russell 2000 is up a scant +0.06%. The 10-year bond yield has moved back below +4.5%, the 2-year below +4%. Yesterday after the open, we saw another big fall in U.S. Leading Economic Indicators (LEI) for April, -1.0% to 99.4 points — the first time we were sub-100 since multi-year lows back in September of last year. This was the fifth-straight drop after the hopeful turn in LEI back around the 2024 a little context, back when the Fed began raising interest rates to fight runaway inflation in March 2022, U.S. LEI started a steep and steady downward trajectory over the next two-and-a-half years, from 117.6 at the peak to 99.7 last September. We surged back up over 100 in October and the climb started to descend in December. Yesterday's 99.4 is the lowest monthly print we've seen more than 10 years. Home Depot HD is the latest big box retailer to report April-ending quarterly earnings, posting mixed results ahead of today's open. Earnings of $3.56 per share was shy of the Zacks consensus by 3 cents, while revenues modestly outperformed estimates to $39.86 billion, up +9.4% year over year. Shares are up +2% in today's pre-market, wiping away most of its losses year to Holdings VIK, the parent company of the popular Viking river cruise lines, outperformed expectations in its Q1 report this morning. Negative earnings of -$0.24 per share were 2 cents better than anticipated, on $897.06 million in revenues, +4.49% ahead of estimates. The company's conference call is going on presently, and shares are down -5% at this hour. Viking had been up nearly +7% year to date as of yesterday's close. Calendar Q1 earnings season continues to wind down, but we still see some pertinent companies reporting — including after today's closing bell. Cybersecurity major Palo Alto Networks PANW is expected to post negative -8% earnings growth, with revenues looking to come in +14.67%. The stock carries a Zacks Rank #4 (Sell) with a Value-Growth-Momentum grade of F into today's homebuilder Toll Brothers TOL also reports fiscal Q2 numbers after today's close. It's been a stormy climate for the housing market, as nearly everyone knows, and this Zacks Rank #4-rated company is expected to fetch -15.3% on its bottom line and -11.9% on the top-line. The company looks to post its third earnings beat in the last four quarters. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Home Depot, Inc. (HD) : Free Stock Analysis Report Toll Brothers Inc. (TOL) : Free Stock Analysis Report Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report Viking Holdings Ltd. (VIK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
Pre-Markets Flat After "V-Shaped Rally" Off April Lows
Tuesday, May 20, 2025Pre-market futures are flat following a sixth-straight up-day on the S&P 500. Market sentiment — likely due to partiality toward positive trade deals in the works with global trading partners of the U.S. — has been positively buoyant, leading to a 'V'-shaped rally. As of yesterday, markets blew through negative economic sentiment, but this morning the appetite seems to be Dow is +0.03% and the S&P 500 is -0.17% at this hour. The tech-heavy Nasdaq, which has grown nearly +20% on this near-term recovery, is -0.28% at this hour in early trading. The small-cap Russell 2000 is up a scant +0.06%. The 10-year bond yield has moved back below +4.5%, the 2-year below +4%. Yesterday after the open, we saw another big fall in U.S. Leading Economic Indicators (LEI) for April, -1.0% to 99.4 points — the first time we were sub-100 since multi-year lows back in September of last year. This was the fifth-straight drop after the hopeful turn in LEI back around the 2024 a little context, back when the Fed began raising interest rates to fight runaway inflation in March 2022, U.S. LEI started a steep and steady downward trajectory over the next two-and-a-half years, from 117.6 at the peak to 99.7 last September. We surged back up over 100 in October and the climb started to descend in December. Yesterday's 99.4 is the lowest monthly print we've seen more than 10 years. Home Depot HD is the latest big box retailer to report April-ending quarterly earnings, posting mixed results ahead of today's open. Earnings of $3.56 per share was shy of the Zacks consensus by 3 cents, while revenues modestly outperformed estimates to $39.86 billion, up +9.4% year over year. Shares are up +2% in today's pre-market, wiping away most of its losses year to date. For more on HD's earnings, click Holdings VIK, the parent company of the popular Viking river cruise lines, outperformed expectations in its Q1 report this morning. Negative earnings of -$0.24 per share were 2 cents better than anticipated, on $897.06 million in revenues, +4.49% ahead of estimates. The company's conference call is going on presently, and shares are down -5% at this hour. Viking had been up nearly +7% year to date as of yesterday's close. For more on VIK's earnings, click here. Calendar Q1 earnings season continues to wind down, but we still see some pertinent companies reporting — including after today's closing bell. Cybersecurity major Palo Alto Networks PANW is expected to post negative -8% earnings growth, with revenues looking to come in +14.67%. The stock carries a Zacks Rank #4 (Sell) with a Value-Growth-Momentum grade of F into today's report. (You can see the full Zacks Earnings Calendar here.)Upscale homebuilder Toll Brothers TOL also reports fiscal Q2 numbers after today's close. It's been a stormy climate for the housing market, as nearly everyone knows, and this Zacks Rank #4-rated company is expected to fetch -15.3% on its bottom line and -11.9% on the top-line. The company looks to post its third earnings beat in the last four quarters. Questions or comments about this article and/or author? Click here>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Home Depot, Inc. (HD) : Free Stock Analysis Report Toll Brothers Inc. (TOL) : Free Stock Analysis Report Palo Alto Networks, Inc. (PANW) : Free Stock Analysis Report Viking Holdings Ltd. (VIK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
