Fresh Closing Highs for S&P, Nasdaq; Lennar Beats in Q2

Zacks06-18

Monday, June 17th, 2024It was a good day in the markets to start the week. This is the official week of summer, and while the tone feels rather wistful and sunny, we still see fresh all-time closing ...

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This is the official week of summer, and while the tone feels rather wistful and sunny, we still see fresh all-time closing ...</p>\n\n<a href=\"https://finance.yahoo.com/news/fresh-closing-highs-p-nasdaq-220000036.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TPH","symbol_name":"Tri Pointe Homes Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/fresh-closing-highs-p-nasdaq-220000036.html","article_id":"2444143494","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/fgW83xbLJIpaLQu4JSQtxQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/addb773d56c88cd46b0cd866e05cfb0a"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2444143494","pubTimestamp":1718661600,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Want the latest recommendations from Zacks Investment Research?Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TPH":"Tri Pointe Homes Inc.","QQQ":"纳指100ETF","SQQQ":"纳指三倍做空ETF","BK4504":"桥水持仓","BK4088":"住宅建筑","BK4112":"金融交易所和数据",".IXIC":"NASDAQ Composite","PHM":"普得集团","NDAQ":"纳斯达克OMX交易所","LU2095319765.USD":"Natixis Thematics Subscription Economy R/A USD","LU2210150020.SGD":"Natixis Thematics Subscription Economy R/A SGD","BK4585":"ETF&股票定投概念","QID":"纳指两倍做空ETF","TMHC":"Taylor Morrison Home Corporation","LU2210149790.SGD":"Natixis Thematics Subscription Economy R/A SGD-H","BK4533":"AQR资本管理(全球第二大对冲基金)","TQQQ":"纳指三倍做多ETF","LEN":"莱纳建筑公司","KBH":"KB Home","MHO":"MI 家居","PSQ":"纳指反向ETF","BK4588":"碎股","QLD":"纳指两倍做多ETF"},"translate_title":"标准普尔、纳斯达克创下收盘新高；Lennar第二季度表现出色","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TPH":1,"TMHC":1,"KBH":1,"PHM":1,".IXIC":1,"NDAQ":1,"MHO":1,"LEN":0.9,"TQQQ":0.6,"SQQQ":0.6,"QQQ":0.6,"QLD":0.6,"QID":0.6,"PSQ":0.6,"NQmain":0.6,"MNQmain":0.6},"content_text":"Monday, June 17th, 2024It was a good day in the markets to start the week. This is the official week of summer, and while the tone feels rather wistful and sunny, we still see fresh all-time closing highs on the Nasdaq and S&P 500: +0.95% on the tech-heavy index, to 17,857, and +0.77% on the Big 500, to 5473. Compare this with the still-favorable +0.41% on the Dow, now at 38,778 — still a ways from that mid-May peak just above 40K. The small-cap Russell 2000 was +0.79%, now at 2022.Mid-level homebuilder Lennar Corp. LEN posted easy beats over Q2 estimates this afternoon. Earnings of $3.45 per share outpaced the Zacks consensus by a solid quarter, while revenues of $8.77 billion surpassed the $8.57 billion analysts were expecting. The company cited +19% growth in new orders and +15% on deliveries, with the average home price at $426K. This is down -1%, but an improvement over the -8% drop a quarter ago. High mortgage rates continue to provide a steady headwind, though demand remains present. Shares are -1.8% lower in late trading, perhaps on lighter deliveries guidance going forward.Lennar is not the highest-rated homebuilder in the space. In fact, we currently see four Zacks Rank #1 (Strong Buy) stocks in the sector, all of which have already reported quarterly earnings: MI Homes MHO, PulteGroup PHM, Taylor Morrison TMHC and Tri Pointe Homes TPH. KB Home KBH, a homebuilder with an average selling price a bit higher than Lennar, currently carries a Zacks Rank #2 (Buy), and reports quarterly earnings after the closing bell on Tuesday.Tuesday morning, we see Retail Sales numbers for May. Month over month, we’re expected to tick up 20 basis points (bps) from the flat 0.0% read in April. Year over year, last time around we were at +3.0%, which was a drop of 80 bps from the prior month. We hope to be out of the range of hard-to-predict volatility in these numbers going forward — we ended last year at +5.5% in December and dropped to +0.3% in January. Moderating retail sales would be another sign the economy is cooling.We don’t expect another big economic news item beyond this until late next week. At that point, we’ll see the comprehensive Personal Consumption Expenditures (PCE), the Fed’s preferred gauge of inflation. Last month we saw year-over-year headline come in at +2.65%, +2.75% on core year over year. That these figures have kept a “2-handle” now seven months in a row is a good sign. The more lower-growth signals we see — particularly without tipping into recession, at the same time — the more the Fed funds rate is going to look overpriced.Questions or comments about this article and/or author? Click here>>\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nPulteGroup, Inc. (PHM) : Free Stock Analysis Report\nKB Home (KBH) : Free Stock Analysis Report\nLennar Corporation (LEN) : Free Stock Analysis Report\nTri Pointe Homes Inc. (TPH) : Free Stock Analysis Report\nTaylor Morrison Home Corporation (TMHC) : Free Stock Analysis Report\nM/I Homes, Inc. (MHO) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2444143494"}