Stocks slipped on Wednesday following a negative assessment of the housing market from a large home builder and a Federal Reserve report indicated some U.S. regions were seeing slowing economic growth.
Stocks gave up gains in the last hour of trading after the chief executive of D.R. Horton Inc. delivered an unusually blunt evaluation of the residential real estate market.
Energy stocks, including Exxon Mobil Corp. rose after a jump in crude oil prices, and investors snapped up some beaten-down shares of mortgage lenders, including Fremont General Corp. on a report that it has several suitors interested in its mortgage unit.
Read more at Reuters.com
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