TradingMarkets Mid-Day Movers
The major indices are selling off this
morning as the New Home Sales Report came in lower than expected.
Some of the hardest hit homebuilders include Lennar
(
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PowerRating)
and KB Homes
(
KBH |
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PowerRating), both trading lower by 2%.
May Crude futures continue to
rise to a three-month high on heightened concerns over Iran.
Crude is currently trading higher by 1.4% to $63.13 per barrel.
Gold futures for April delivery is also rising up 0.9% to $669.30 an ounce.
Asian stocks rose Monday with the
Shanghai Composite rallying more than 1.5% to 3,122.81.
Tokyo’s Nikkei gained 0.24% to 17,521.96 and Hong Kong’s Hang Seng
index rose 0.4% to 19,765.85.
Our
Daily Market Bias page has been updated with new indicators to
determine if there is a strong bias for the market to move higher
(or lower) the following day. From Friday’s close several
bearish signals were triggered. It will be interesting to
see if today’s selloff continues through the week.
Click here for more information on our Daily Market Bias
indicators.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com