RE:Home builders, flooring companies rallyDonwaan wrote: Home builder stocks were rallying across the board on Thursday, after government data showed U.S. consumer prices fell for the first time in more than four years, boosting hopes the Fed may soon start to lower interest rates. https://www.marketwatch.com/story/home-builders-flooring-companies-and-pool-maker-stocks-rally-as-cpi-data-boosts-rate-cut-hopes-20618c73?mod=home-page
Some new data and comments today imply some good and bad news.
This morning's G & M posted and article, "Annual Pace of Housing Starts in Canada down 9% in June from May CMHC says. Let's hope that this bad data can be overcome with the suggested good news from both the USA and Canada that also appeared this morning.
Bloomberg's Joe Wesenthal in Five Things to Sart Your Day ,stated -- The big macro news yesterday was Goldman Sachs top economist Jan Hatzius declaring that the economid data justifies a rate cut at the Feb's decision at the end of July. But the markets are still indicating very slim odds of a cut.
Also this morning, the G & M reported "Downbeat Bank of Canada business and consumer surveys raise odds of a second rate cut at the central bank's next rate announcement on July 24.
Let's hope we're turning the economic corner towards some better times ahead.