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Homebuilders are hurting. U.S. home construction in March endured its worst monthly decline since 1984 as housing starts fell by over 22% from the previous month, the Commerce Department said Thursday. Homebuilder confidence was also pummeled, with one key indicator seeing the biggest drop in its 35-year history. Home construction stocks have reflected the weakness. The iShares
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European Central Bank officials have held high-level talks with counterparts in Brussels about creating a eurozone bad bank to remove billions of euros in toxic debts from lenders’ balance sheets. The plan to deal with debts left over from the 2008 financial crisis is being pushed by senior ECB officials, who worry the coronavirus pandemic
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Conservative activists cheered on in some cases by Donald Trump are vowing to step up street protests against lockdowns imposed to stop the spread of the coronavirus, arguing the restrictions violate their civil rights and threaten their ability to earn a living. The demonstrations in recent days have echoes of the anti-establishment agitation that led
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The municipal market was mostly quiet Friday as participants came off a week of a strong rally, an awakened new-issue market and the first fund inflows since February as they cautiously await another week with more deals on tap and continued questions of support out of Washington. Triple A benchmarks showed slight weakness with most
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urbazon | Getty Images More than 2.9 million homeowners have taken advantage of a program designed to provide relief to holders of government-backed mortgages, part of the coronavirus CARES Act relief package. This represents 5.5% of all active mortgages, according to Black Knight, a mortgage data and analytics company that is now tracking the growing
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This video explains what the Alligator Indicator is, what it’s for and how to use it. The video includes a demonstration with a chart of real-market prices to show how the indicator may provide information about the state of the market and how to read the indicator’s signals for trading a trend. Try the Alligator
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Flooding resulting from Hurricane Harvey in Houston, Texas. Harriet Taylor | CNBC Nothing can compare to the crushing economic tsunami created by the coronavirus pandemic, but in the housing market, there are some parallels to natural disasters. Lessons learned from those devastating events are helping the industry cope now. In 2017, after Hurricane Harvey swamped
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People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fayetteville, Arkansas, April 6, 2020. Nick Oxford | Reuters One out of every five workers in Michigan and Pennsylvania have applied for unemployment benefits, compared to just one out
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