This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stocks Edge Up on Housing Data, Japan's Easing

Stocks in this article: ^DJI ^GSPC ^IXIC GIS AZO CBRL HOV AREX

NEW YORK ( TheStreet) -- The major U.S. stock averages finished with slight gains Wednesday, buoyed by another batch of encouraging housing data and an unexpected easing of monetary policy by Japan's central bank.

The Dow Jones Industrial Average closed up 13 points, or 0.10%, at 13,578. Already up more than 11% year-to-date, the blue-chip index is on track for its biggest monthly point gain since October 2011.

Within the Dow, breadth was positive with winners outpacing losers 18 to 11 and American Express (AXP) finishing flat.

The top gainers were Walt Disney (DIS), Home Depot (HD) and Kraft Foods (KFT).

The biggest laggards were Exxon Mobil (XOM), Hewlett-Packard (HPQ), and Intel (INTC).

The S&P 500 added less than 2 points, or 0.12%, to settle at 1461, while the Nasdaq tacked on nearly 5 points, or 0.15%, to finish at 3182.

The strongest sectors in the broad market were consumer cyclicals, services and conglomerates. Only the energy sector was lower. Volume was again light at 3.40 billion on the New York Stock Exchange and 1.85 billion on the Nasdaq.

Once again, the latest reads on the housing market were generally promising. The National Association of Realtors said before the open that existing-home sales rose 7.8% to a seasonally adjusted annual rate of 4.82 million in August from 4.47 million in July, better than the increase to a rate of 4.58 million expected by economists as buyers take advantage of "excellent housing affordability conditions," said Lawrence Yun , chief economist at the NAR.

The national median price rose on a year-over-year basis for the sixth straight month.

Paul Pagnato, managing director and partner at HighTower's Pagnato-Karp Group, has a lot of concerns on the investment outlook -- first and foremost on weak corporate revenue growth amid the slowdown across the world's largest economies. However, he said that's it's not all gloom and doom out there, and that there are a couple of very positive investment opportunities, one of them being real estate.

Noting the jump in existing August home sales, Pagnato said there are four major real estate sectors that are particular appealing: student housing, medical facilities, self-storage and senior living.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs