6/28/2024 ‘Newly Built Homes? & Streaking Past the Dow’
Russell E. Towne | June 28, 2024
6/28/2024 ‘Newly Built Homes? & Streaking Past the Dow’
Russell E. Towne | 6/28/2024 ‘Newly Built Homes? & Streaking Past the Dow’
AUTHOR: TOWNEWEALTHMANAGEMENT.NET/BLOG 6/28/2024: Towne Wealth Management BLOG:
Newly Built Homes?
Sales of newly built homes'fell'11.3% in May from the prior month to 619,000, says CNN 6/26/2024. High inflation, high interest rates and a lack of inventory are issues surrounding such changes. High interest rates and the belief that they’ll remain higher for longer than thought are pressuring America’s homebuilders.
Streaking Past the Dow
Nevertheless, we have the S & P 500 streaking past the Dow, resulting from the ‘500’s’ greater exposure to certain tech stocks, reports MarketWatch 6/24/2024. Apparently, tech is the culprit again, with Data and Energy making some strong movesalong with some no-tech stocks.
Is the market starting to broaden out, is the question? Or, is it just topping out and,
now…
waiting for Fed rate changes
and
the election results…???
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Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.
The opinions expressed in this material do not necessarily reflect the views of LPL