The Dow Jones Industrial Average has regained some of its early losses but still has a long way to go to reach a historic high, as investors have taken a step back from buying stocks in anticipation of the Fed’s decision on the future of interest rates.
MarketWatch/NBC News: The Dow has regained its initial losses in the first two days of the week after the Federal Reserve announced that it will not raise interest rates until next March.
The Dow was down 0.56 percent to 16,974.93.
The S&P 500 gained 0.43 percent to 2,923.10 and the Nasdaq Composite gained 0
A report from the National Association of Home Builders (NAAB) on the current market in the US states, it said that the housing market has not yet fully awoken from the “dark” era of the housing bubble.
The NAAB said the market was “still in a state of disarray” but that it expected “a gradual awakening” to the market and that “some key market elements are still in place”.
The NCAAS said that its “most recent report on the housing sector showed that demand for new construction in 2016 was up 4.4 percent from 2015 and that the number of units completed in the housing industry grew by 6.1 percent.”
We expect this momentum to continue into the second half of 2017, and that prices will increase in the medium term,” the report said.”
Despite the sharp improvement in the economy, the number and quality of units delivered by developers has not increased as expected.””
In our view, this slowdown is largely due to the fact that the economy continues to struggle with the housing shortage.
“The NACAAS also said that it expects a rebound in the number, quality and price of units in the second quarter of 2017.
In February, the US Federal Reserve announced it would be raising interest rates by 1.25 percentage points, from 0.25 percent to 0.5 percent, in an attempt to stimulate the economy.