We're seeing a nice bounce in US equities today, sparked by strong new home sales data
We're seeing a nice bounce in US equities today, sparked by strong new home sales data. New residential homes sales climbed to 504,000 in August. That's 18% above the July number and a strong 33% climb from the same period last year. Not only did today's housing number far exceed estimates, but it's also the highest month of new home sales in six years. Home sales are one of the biggest factors contributing to overall economic growth, so this is unmistakably a good sign. On a separate note, the median sales price of a new home in the US climbed to $275,600. (VIEW LINK)
I'm an investments analyst for a US-based independent investment research firm. My focus is on economics, options, and all types of stocks, but especially tech, Internet, and renewable energy companies. I have experience as a options market...
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