Housing Crumbles as Energy Trades Continue to Outperform
Housing decline blamed on the weather, but that doesn't explain why the northeast saw an increase in housing starts.
Disappointing housing reports are blamed the weather, but the numbers don't add up. The only increases were in the northeast, so perhaps it was an increase in building igloos. Greywolf Chief Market Technician Mark Newton noted that most of the economic data has been weak so far this year and the only outperforming sector was energy. He also pointed out that natural gas has performed well even though there are no supply issues. Again, this is attributed to the weather. Debra Borchardt reports from The New York Stock Exchange
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