XHB Jun 2024 104.000 put
- Yahoo Finance Video
What do homebuilders want? Immigration reform
US homebuilders are navigating both higher mortgage rates as well as constrained capital for building projects. But there is another big labor factor the industry is trying to figure out. National Association of Home Builders (NAHB) CEO Jim Tobin explains the industry's high labor demand that could be filled by skilled immigrant workers. According to the NAHB's own Eye On Housing Report, data from 2022 suggests that "a third of all carpenters and 41% of construction laborers are of foreign-born origin" in the United States. "Our number one issue this year was about workforce development and immigration, which is so politicized right now. And it won't be until whoever we find out who the next president is, where we can really tackle the issue," Tobin says. later adding: "We want people who want to come into this country legally to come through in an orderly fashion. We want people who want to work in the construction industry to have a visa that allows them to work in our industry, just like they can work in the seasonal market, or they can work in agriculture." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Housing trends, HPE CEO on Nvidia partnership: Market Domination
There's never enough time in the day to trade, as Market Domination Hosts Julie Hyman and Josh Lipton walk investors through the final trading hour of Thursday, June 20. They cover the top trending stocks and market movements ahead of the closing bell. Hewlett Packard Enterprise (HPE) CEO Antonio Neri discusses HPE's new partnership with Nvidia (NVDA) on its line of "Nvidia AI Computing by HPE" product offerings. National Association of Home Builders (NAHB) CEO Jim Tobin stops into the studio to tackle some of the biggest challenges the US housing market is currently facing. Yahoo Finance's top trending stock tickers this hour include Gilead Sciences (GILD), commercial-grade EV maker Nikola (NKLA), and Advanced Micro Devices (AMD). This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Chip stocks soar, housing market struggles: Morning Brief
On today's episode of Morning Brief, Hosts Brad Smith and Madison Mills break down the market open and some of the trading day's biggest stories. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) opened Thursday's trading session higher, while the Dow Jones Industrial Average (^DJI) hovered below its flat line. The tech sector continues to push the markets to new heights, as Nvidia (NVDA) has become the most valuable publicly traded company on the New York Stock Exchange. Meanwhile, Dell Technologies (DELL) has announced a new partnership with Nvidia to construct an AI factory for xAI, Elon Musk's artificial intelligence venture. In a parallel development, Musk indicated that xAI will also explore utilizing Super Micro Computer's (SMCI) server solutions. Meanwhile, new economic data releases painted a mixed picture of the labor market and housing sector in the United States. On the employment front, the number of initial jobless claims fell to 238,000 for the week ending June 15, coming in hotter than economists' expectations of 235,000. The housing sector also showed signs of strain, with both housing starts and building permits falling more than expected in May. Pulte Capital CEO Bill Pulte calls the print "a little bit of a speed bump" in an overall strong housing market. As the Swiss National Bank initiated its second interest rate cut this year, all eyes are on when the Federal Reserve will cut rates. JPMorgan US Head of Investment Strategy Jake Manoukian explains: "The Fed's going to join the party probably at some point this year. We're 90 days away from the September Fed meeting, traders are pricing in a 67% chance that that's the first cut." He adds that if a rate cut does not come in September, it will most likely come in December. This post was written by Melanie Riehl
