(Reuters) - The dollar stayed near overnight lows against most major currencies on Tuesday after U.S. sales of new homes in February dropped to the lowest rate since June 2000, resurrecting expectations of a Federal Reserve interest rate cut.
The report offset stronger-than-expected existing home sales data last Friday and reignited concerns that the slowing U.S. housing market has yet to stabilise.
Read more at Reuters Africa
Showing posts with label New Home Sales. Show all posts
Showing posts with label New Home Sales. Show all posts
Monday, March 26, 2007
Dow Average Falls for 1st Time in 6 Days as Citigroup Declines
The Dow Jones Industrial Average fell for the first time in six days, led by financial and industrial companies, after an unexpected decline in new-home sales heightened concern that economic growth will slow.
Citigroup Inc. pulled banks lower, while Honeywell International Inc. paced losses among industrial shares on concern the deteriorating housing market will reduce demand for loans and construction equipment. A jump in oil prices spurred gains in energy shares, lifting the Standard & Poor's 500 Index to its fifth advance in six days. Dell Inc. helped boost the Nasdaq Composite Index.
The fewest new home sales in seven years dimmed prospects for a quick rebound in real estate. The Commerce Department's report curtailed a rally that lifted stocks to their biggest weekly advance in four years.
Read more at Bloomberg.com
Citigroup Inc. pulled banks lower, while Honeywell International Inc. paced losses among industrial shares on concern the deteriorating housing market will reduce demand for loans and construction equipment. A jump in oil prices spurred gains in energy shares, lifting the Standard & Poor's 500 Index to its fifth advance in six days. Dell Inc. helped boost the Nasdaq Composite Index.
The fewest new home sales in seven years dimmed prospects for a quick rebound in real estate. The Commerce Department's report curtailed a rally that lifted stocks to their biggest weekly advance in four years.
Read more at Bloomberg.com
US homes data erases fresh peak on S.Africa bourse
(Reuters) - South African shares closed weaker on Monday after weaker than expected U.S. home sales data renewed fears about growth in the world's biggest economy, upsetting a record rally on the local bourse.
Before the release of the bearish U.S. data, the JSE All Share index raced to a fresh all-time peak of 27,152.7 points. The All-share index closed 0.58 percent weaker at 26,756.29 points.
Read more at Reuters Africa
Before the release of the bearish U.S. data, the JSE All Share index raced to a fresh all-time peak of 27,152.7 points. The All-share index closed 0.58 percent weaker at 26,756.29 points.
Read more at Reuters Africa
Dollar falls after lower-than-expected new home sales
(Reuters) - The dollar fell on Monday after data showed U.S. new home sales for February dropped to its lowest rate since June 2000.
New single-family home sales fell to an annual rate of 848,000 units from a downwardly revised rate of 882,000 in January, the Commerce Department said. Analysts polled by Reuters were expecting February sales to rise to 985,000 from the previously reported rate of 937,000 units in January.
Read more at Reuters Africa
New single-family home sales fell to an annual rate of 848,000 units from a downwardly revised rate of 882,000 in January, the Commerce Department said. Analysts polled by Reuters were expecting February sales to rise to 985,000 from the previously reported rate of 937,000 units in January.
Read more at Reuters Africa
Friday, January 26, 2007
US indexes fall after home sales report
U.S. stocks fell on Friday after data showing stronger-than-expected new home sales last month raised concern about the outlook for interest rates.
A rise in crude oil prices added to the negative tone
Read Full Article at Reuters South Africa
A rise in crude oil prices added to the negative tone
Read Full Article at Reuters South Africa
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