• 8 months ago
TheStreet’s Caroline Woods brings you the biggest news of the day, including what investors are watching and an update on the housing market.

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Transcript
00:00 I'm Caroline Woods reporting from the New York Stock Exchange.
00:03 Here's what we're watching on the street today.
00:05 Wall Street is keeping its eye on the ongoing earnings parade as analysts digest the latest
00:11 results from Tesla and Visa after Tuesday's closing bell.
00:16 Investors will also be looking out for first quarter GDP set to be released Thursday and
00:21 the Fed's favorite inflation gauge, the PCE index, which is out Friday.
00:25 The central bank will make another decision on interest rates on April 30th.
00:30 In other news, despite consistently high mortgage rates, sales of newly built homes in the United
00:35 States rose significantly in March.
00:37 New home sales increased by 8.8 percent to 693,000, easily beating economists' projections
00:44 by more than 20,000 sales.
00:46 It's the strongest monthly increase in more than two years, according to a Faxet poll.
00:51 However, sales of existing homes dropped by 4.3 percent, the steepest decline in more
00:57 than a year, according to the National Association of Realtors.
01:01 Existing homes make up the majority of the U.S. housing market.
01:04 The national median cost for a home in the U.S. was $393,500 in March, up almost 5 percent
01:12 year over year.
01:13 And economists believe the housing market will remain difficult for prospective home
01:17 buyers.
01:18 Mortgage rates are predicted to remain above 6 percent for the remainder of 2024.
01:22 And while the Fed doesn't set mortgage rates, the central bank's decision on interest rates
01:27 does influence them.
01:28 The Fed is not expected to cut rates at its upcoming meeting.
01:32 That will do it for your daily briefing from the New York Stock Exchange.
01:35 I'm Caroline Woods with The Street.
01:36 Thanks for joining us.
01:37 Thanks for having me.
01:37 [BLANK_AUDIO]

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