Stronger-than-expected housing data also suggested that the Federal Reserve could have room to raise interest rates sooner rather than later. A stream of weak economic data through last week suggested that Fed would wait to see more strength in the economy before raising rates. Seven of the 10 major S&P 500 sectors were down, with the energy index (.SPNY) weighing the most with a 1.04 percent fall.
“The growth that we see in our business … supports the view of the continued recovery in the U.S. housing market,” Chief Executive Craig Menear said on a conference call. Home Depot raised its profit forecast for the year ending February 2016 to between $5.24 and $5.27 per share including items, from $5.11 to $5.17. Analysts on average had expected a profit of $1.15 per share and revenue of $20.81
U.S. housing starts jumped to their highest level in nearly 7-1/2 years in April and permits soared, hopeful signs for an economy that is struggling to regain strong momentum after a dismal first quarter. The strength in housing is in stark contrast with weakness in consumption, business spending and manufacturing, which have prompted economists to lower their second-quarter growth estimates and raised doubts that the Federal Reserve will raise interest
Happy end of the season, y’all! It’s the final week of network finales, which means we can kick right into the gear of fretting over how some of the biggest cliffhangers will be resolved…
Noah Galloway’s biggest fans? His biggest Dancing With the Stars competition. After scoring 32 out of 40 points for his first dance during Monday night’s…
Rebel Wilson is just trying to be Rebel Wilson, despite what the tabloids might say. Australian tabloid Woman’s Day printed a story that claimed that the Pitch Perfect 2 star has…
We’re officially issuing a flash flood warning for tonight. Why? Because The Flash finale is about to cause a rainstorm of tears amongst its unsuspecting and totally unprepared…
Some of the Gladers and Runners are out of the maze, but they’re still not safe. The first trailer for the Maze Runner: The Scorch Trials has dropped and Dylan O’Brien is back to…
Bruce Jenner’s transition will mean some changes for the family, but the most important thing will remain the same: The Keeping Up With the Kardashians star will always love his…
Is there “Bad Blood” between Taylor Swift and Harry Styles? After racking up eight wins at Billboard Music Awards in Las Vegas Sunday, Taylor and her musical BFF Ed Sheeran threw…
