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Taxpayers must pay the freight for over-budget train projects
Topic - Kim Caughey Forrest
Stocks advanced Thursday morning, pushing the Standard and Poor's 500 to another five-year high, after strong reports on housing starts and unemployment claims made investors more optimistic about the U.S. economy.
U.S. stocks closed lower Tuesday as traders awaited the start of the corporate earnings season.
So much for Irene. Stocks rose broadly Monday, led by insurance companies, after it became clear that the tropical storm caused far less damage than many had feared.
Kim Caughey Forrest, a senior analyst at Fort Pitt Capital Group, said it was too early to conclude that the housing market had turned the corner.
She noted that a large "shadow inventory" of houses that still need to be foreclosed on may weigh on house prices in the coming months.