One of these stocks stands to benefit from interest rate cuts that could be on the way. Another will soon launch a new product that could become its most successful ever.
Yesterday, mortgage rates fell for a sixth-straight week and hit their lowest level since February 2023, with the average contract interest rate for a 30-year fixed-rate mortgages with conforming loan balances dropping to 6.29%.
After a sharp sell-off that pushed the SPDR Homebuilders ETF NYSE: XHB toward crucial support near $105 during the early August carry trade unwind panic, the sector has rebounded impressively. Now sitting just 3% away from its 52-week high, XHB is consolidating near a significant breakout zone of around $120.
D.R. Horton is the largest U.S. homebuilder, and the stock has been hitting all-time highs. The company increased its market share in an industry that outpaced the overall housing sector.
When the Federal Reserve cuts interest rates – as it's all but guaranteed to start doing in September – it has wide-ranging impacts on markets. What are the implications for the dollar?
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