Houses data driving the Dow Jones High
The reason for the purchase of pleasure were maltreated positive data from U.S. housing market: The number of housing start in February rose by more than a fifth in time so much as since 1990 no longer work. The first growth ever since almost a year led to investors cautious hope for an end to the downturn in the housing markets.
Technology stocks benefited from a purchase recommendation for the network equipment supplier Cisco, as the indicator for the good of the industry. A rise in oil prices drove energy values in the height. On the other hand, depressed mood is bad news from the world’s largest aluminum company Alcoa.
Of the numerous residential Begin benefited mainly the construction group Ryland and KB Home. Ryland was almost 7, KB Home 9.3% plus. The rally in the sector was partly due to the good news back from the real estate market, said Michael Koskuba of Victory Capital Management. “Simultaneously, the shares so Buffeted and expectations so low that any hint of good news in the amount of driving.” The shares of the DIY chain Home Depot also benefited from a buy recommendation and submitted to 6.7%.
Cisco itself has benefited from a purchase recommendation by Goldman Sachsund submitted to 4.5%. The rise of the network equipment pulled other technology stocks also. Sun’s shares have gained iPhone manufacturer Apple 4.4%.
Energy values benefited from rising oil prices. One barrel (159 liters) of light oil cost U.S. $ 48.84 and 1.50 more than the previous day. Then won the papers of the energy company Exxon Mobil 3.2%.
Also in the banking sector did optimism: JP Morgan gained 8.8%. The economic package and the bank rescue plan worked out slowly, said Carl Birkelbach of Birkelbach Management in Chicago. “In the long term, the crisis could be averted.”
For caution, however, caused the announcement of the world’s largest aluminum company Alcoa, its savings rate to tighten its dividend and pruning. Alcoa fell 8.7% Permits On.