Miércoles 20/05/20 Inicios de casas

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Miercoles

Eventos económicos

Inicios de casas
Permisos de construcción
Testifica Powell

Housing starts (annual rate) April 891,000 900,000 1.276 million
8:30 am Building permits (annual rate) April 1.074 million 996,000 1.356 million
10 am Fed Chair Jerome Powell testifies
10 am Minneapolis Fed's Neel Kashkari speaks
2 pm Boston Fed's Eric Rosengren speaks

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LAST CHG %CHG
Crude Oil Futures 32.36 0.54 1.70
Brent Crude Futures 35.00 0.35 1.01
Gold Futures 1752.10 6.50 0.37
Silver Futures 18.050 0.149 0.83
DJIA Futures 24344 186 0.77
S&P 500 Futures 2938

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9185.10 -49.72 -0.54
Japan: Nikkei 225 20632.50 199.05 0.97
UK: FTSE 100 6002.23 -46.36 -0.77
Crude Oil Futures 32.36 0.54 1.70
Gold Futures 1752.40 6.80 0.39
Yen 107.77 0.08 0.07
Euro 1.0942 0.0019

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LAST CHG %CHG
DJIA 24206.86 -390.51 -1.59
Nasdaq Composite 9185.10 -49.72 -0.54
S&P 500 2922.94 -30.97 -1.05
China: Shanghai Composite 2892.09 -6.49 -0.22
Japan: Nikkei 225 20636.71 203.26 0.99
UK: FTSE 100 6002.23

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LAST CHG %CHG
Euro (EUR/USD) 1.0941 0.0018 0.16
Japanese Yen (USD/JPY) 107.77 0.08 0.07
U.K. Pound (GBP/USD) 1.2260 0.0009 0.07
Swiss Franc (USD/CHF) 0.9698 -0.0019 -0.20
Chinese Yuan (USD/CNY) 7.1046 0.0054 0.08
U.S. Dollar Index 99.44

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https://lta.reuters.com/articulo/salud- ... V2UH-OUSLT

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Dow futures bounce more than 200 points as volatile week continues, Lowe’s shares jump
PUBLISHED TUE, MAY 19 20206:03 PM EDTUPDATED AN HOUR AGO
Fred Imbert
@FOIMBERT
Maggie Fitzgerald
@MKMFITZGERALD
WATCH NOW
VIDEO00:42
Stocks set for higher open following Tuesday’s weak session
Stock futures pointed to a solid opening for the market on Wednesday morning. Dow futures were up by 249 points. On Tuesday the market was down 1%, with a bad close.

Here are the three big stories that are moving the market this morning:

Strong results amid a lockdown from Lowe’s helped market sentiment. The home improvement retailer reported a same-store sales increase for the first quarter of 11.2%. The shares jumped 7% in premarket trading.
In another sign of economic activity amid the pandemic, Target said a surge in digital sales fueled a 10.8% increase in same-store sales last quarter. The shares, which are up 13% in the last one month, fell slightly in premarket trading.
Investors continue to watch how the reopening of states is going and so far there doesn’t appear to be major spikes in the virus. Oil continued to trade higher on Wednesday as traders bet on more driving activity.

Dow futures are higher by 1%. The futures contracts for the S&P 500 climbed 1.1%. Nasdaq-100 futures added 1%.

Fueling the recent volatility is uncertainty around a possible coronavirus treatment and vaccine, and how state and local economies will fare as they prepare to re-open.

Chart of the daily percent change in the S&P 500 over the past 11 trading days
On Tuesday, stocks traded most of the day around the flatline until a report raised concerns about previously publicized trial results for Moderna’s potential coronavirus vaccine. Banks and retailers weighed down the major averages. The Dow Jones Industrial Average lost 390 points. The S&P 500 also registered a loss, dropping 1.05%.

Banks, retailers and airlines were bouncing higher again in premarket trading Wednesday.

The Nasdaq Composite was the relative outperformer, registering a loss of 0.5%. The tech-heavy index is only 6% from its all-time record high thanks to the recent strength in the so-called FANG stocks.


“Underlying performance was odd,” said Jim Paulsen, chief investment strategist at the Leuthold Group. “We had the traditional give-backs from energy and financials. But all of the defensive sectors — utilities, consumer staples, real estate and health care — declined by 1.2% to 1.85%. Finally, Tech and Comms had another great day in a down market reinforcing their recent character of being a defensive stock market play.”

Federal Reserve chairman Jerome Powell and Treasury Secretary Steven Mnuchin testified to the Senate Banking Committee on Tuesday.

Treasury Secretary Steven Mnuchin said Tuesday the Treasury and the Federal Reserve are “fully prepared to take losses” on the remaining capital from the coronavirus bailouts. Mnuchin said before the Senate Banking Committee he is prepared to distribute the entire $500 billion appropriated to help struggling businesses impacted by the coronavirus pandemic. Powell also reiterated the central bank’s commitment to programs aimed at keeping markets functioning and getting money to those who need it during the coronavirus crisis.

Tuesday’s weakness comes off a stellar session for stocks on Monday where the Dow gained more than 900 points on hopes of a possible Covid-19 drug and economic recovery from reopenings. The Dow and S&P 500 both enjoy their biggest one-day gains since April 6.

“The overall stock market gave back only a small part of its monster gain from [Monday] which really was encouraging being bolstered most of the day by the prospect of a period ahead of ‘better news,’ added Paulsen. “With re-openings now the vogue about the country, it seems almost assured that fundamental economic and earnings reports are headed for a period of improvement. Coupled with a virus headed into its weak summer season and vaccine trials in full go, perhaps the stock market could be supported by something other than liquidity injections and fiscal juice.”


The Dow is down slightly more than 15% and the S&P 500 is about 9.5% in 2020. The Nasdaq is still hanging on to its positive 2.4% gain for the year.

Data compiled by Johns Hopkins University shows more than 4.9 million cases have been confirmed worldwide, with over 1.5 million of those infections in the U.S. alone.

The Federal Reserve is set to release its meeting minutes at 2 pm ET.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

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Weekly mortgage applications point to a remarkable recovery in homebuying
PUBLISHED WED, MAY 20 20207:00 AM EDT
Diana Olick
@IN/DIANAOLICK
@DIANAOLICKCNBC
@DIANAOLICK
Purchase volume was just 1.5% lower than a year ago, a rather stunning recovery from just over a month ago, when purchase volume was down 35% annually.
Mortgage applications to purchase a home rose 6% last week from the previous week, according to the Mortgage Bankers Association.
A prospective homebuyer takes in the view at a beach front property in Newport Beach, California.
A prospective homebuyer takes in the view at a beach front property in Newport Beach, California.
Jamie Rector | Bloomberg | Getty Images
If mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and job losses.

Mortgage applications to purchase a home rose 6% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Purchase volume was just 1.5% lower than a year ago, a rather stunning recovery from just six weeks ago, when purchase volume was down 35% annually.


“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks,” said Joel Kan, an MBA economist. “Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months.”

As states reopen, so are open houses, and buyers have been coming out in force, if masked. Record low mortgage rates, combined with strong pent-up demand from before the pandemic and a new desire to leave urban downtowns due to the pandemic, are driving buyers back to the single-family home market. It remains to be seen if this is simply the pent-up demand or a long-term trend.

Buoying buyers, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of up to $510,400 decreased to 3.41% from 3.43%. Points including the origination fee increased to 0.33 from 0.29 for 80 percent loan-to-value ratio loans.

Low rates are not, however, giving current homeowners much incentive to refinance. Those applications fell 6% for the week but were still 160% higher than one year ago, when interest rates were 92 basis points higher. That is the lowest level of refinance activity in over a month.

“The average loan amount for refinances fell to its lowest level since January — potentially a sign that part of the drop was attributable to a retreat in cash-out refinance lending as credit conditions tighten,” said Kan. “We still expect a strong pace of refinancing for the remainder of the year because of low mortgage rates.”


Federal regulators this week changed lending guidelines for Fannie Mae and Freddie Mac, allowing refinances on loans that were or still are in the government’s mortgage bailout, part of the coronavirus relief package. Those loans can be refinanced once borrowers have made at least three regular monthly payments. Given tough economic conditions and rising unemployment, more borrowers may be looking to save money on their monthly payments.

Weaker refinance demand pushed total mortgage application volume down 2.6% for the week.

The refinance share of mortgage activity decreased to 64.3% of total applications from 67% the previous week. The share of adjustable-rate mortgage activity increased to 3.2% of total applications.

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Futures al alza


LAST CHG %CHG
Crude Oil Futures 32.71 0.75 2.35
Brent Crude Futures 35.53 0.88 2.54
Gold Futures 1746.10 0.50 0.03
Silver Futures 17.830 -0.071 -0.40
DJIA Futures 24453 295 1.22
S&P 500 Futures 2953.75 34

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https://lta.reuters.com/articulo/salud- ... W1RI-OUSLT

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https://lta.reuters.com/articulo/salud- ... W15O-OUSLT

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LAST CHG %CHG
DJIA 24528.15 321.29 1.33
S&P 500 2965.87 42.93 1.47
Nasdaq Composite 9342.83 157.73 1.72
Japan: Nikkei 225 20595.15 161.70 0.79
UK: FTSE 100 6035.01 32.78 0.55
Crude Oil Futures 33.08 1.12 3.50
Gold Futures 1751.40 5.80 0.33
Yen 107.54 -0.15 -0.14
Euro 1.0978 0

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https://money.cnn.com/data/dow30/

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https://lta.reuters.com/articulo/reino- ... W1K6-OUSLT

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https://lta.reuters.com/articulo/mercad ... AKBN22W1NM