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Analytics, News, and Forecasts for CFD Markets: stock news — 20-12-2010.
The major indices are mixed with the S&P 500 and Nasdaq holding gains of 0.3% while the Dow trades lower by 0.1%.
The S&P 500 Homebuilding Index is up close to 1.5% today, and is outperforming the broader S&P 500 index. All three stocks in the index, Lennar (LEN 18.16, +0.84), DR Horton (DHI 11.82, +0.43), and PulteGroup (PHM 7.28, +0.22) are trading in positive territory.
Housing data for November will be released this week with Existing Home Sales due out on Wednesday, and New Home Sales due out on Thursday.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were up between 0.3% and 0.5% ahead of the opening bell. Futures measure current index values against perceived future performance.
On Friday, stocks ended little changed. Markets hovered at two-year highs hit in the previous session, as President Obama signed a tax-cut plan into law. Stocks have been trending higher since the compromise deal was announced.
The major indexes have risen more than 4% this month, and are poised for double-digit gains for the year. Investors are already looking ahead to 2011 -- and many have pretty bullish outlooks for the new year.
"The run-up that you are seeing here in the next 7 or 8 days is not unusual," said Jim Russell, Partner and CFO at The Collingwood Group -- a financial advisory firm located in Washington DC. He said investors are positioning their portfolios for the new year.
"The first part of 2011, I think there is going to be a continued run-up in the equity market," Russell said. "The market is traveling on short-term information that says we are in a good position. We are recovering, American businesses are going to take off, and we have had some very good news with consumer spending."
Meanwhile, Russell thinks the long-term picture is less rosy. With a stubbornly high unemployment rate, significant lost value in the real estate market, and nearly broke state and local governments -- Russell says there will be a downward shift in the markets over the longer-term.
World markets: European stocks were higher in afternoon trading. Britain's FTSE 100 rose 0.6%, the DAX in Germany gained 1.1% and France's CAC 40 was up 1.1%.
Tensions on the Korean peninsula were escalated after Seoul's planned live-fire drill. North Korea said the drill could ignite a war, but the country did not act immediately on Monday.
Asian markets ended the session lower. The Shanghai Composite sank 1.4%, the Hang Seng in Hong Kong lost 0.3% and Japan's Nikkei fell 0.9%.
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