Wall Street Oasis - Investment Banking & Finance Community: Market Commentary by James Investment Research

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Market Commentary by James Investment Research Feb 26th 2013, 10:30 This is syndication from jir-inc.com http://www.amazon.com/gp/product/1477212647/ref=ol... Stock Market Analysis Conclusions: The market hit a headwind last week as the S&P 500 index had its first weekly loss in 2013. The index fell 0.22%. The smaller stocks in the Russell 2000 index fared worse, slipping 0.74%. The basic materials and consumer discretionary sectors were hit the hardest as both were down over 1%. Volume was light for the shortened week, only averaging about 760 million shares a day but the heaviest volume came on the days the markets declined. At first glance, the housing recovery appeared to have a setback as housing starts fell 8.5% in January. Fortunately, after looking into the numbers we still see signs of strength within the industry. Single family home starts actually advanced 0.8% for the month and are back to levels last seen in 2008. Most of the decline was due to the decline in apartment and condominium starts. Low mortgage rates and solid traffic levels of prospective buyers are additional encouraging signs for the housing recovery. Anecdotally, we have heard banks are being careful about flooding the market with foreclosures which also helps the market remain firm. read more Media files: preview (image/jpeg, 0 MB)

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