“Uncertainty is no good for these stocks, and until we get some certainty around the taper and around mortgage rates, I think they’re just going to trade up and down and probably end up in the same place,” she said. “They’re tradable but not necessarily investable.”
For homebuilders, “the impact of rising interest rates will lead to slack demand, and that’s going to translate into slow earnings growth,” said Bob Wetenhall, managing director at RBC Capital Markets.
via Most homebuilders are ‘not investable’ right now: Pros.
The Bloomberg Consumer Comfort Index rose to minus 23.5 for the period ended Aug. 4, its strongest reading since January 2008, from minus 27 a week earlier. All income groups save one staged gains, with the biggest advances coming at the lower end of the pay scale.
via Consumer Comfort in U.S. Climbs to More Than Five-Year High – Bloomberg.
GDP last year expanded at a 2.8% pace versus a previous estimate of 2.2%, according to the revised figures released by the Commerce Department. The change comes as part of a comprehensive overhaul of gross domestic product data dating from 1929 through the first quarter of 2013.
via U.S. GDP Grows at 1.7% Pace – WSJ.com.
A new survey released Monday showed that economists are becoming more confident about the nation’s recovery but still expect only gradual improvement.
More than 70 percent of those surveyed by the National Association for Business Economics, an industry group, forecast that the economy will grow more than 2 percent over the next year. In January, only half of respondents were that optimistic.
via Survey: Economists more upbeat on recovery – The Washington Post.