The housing market is back, but how strong will it be this year? New home sales were weaker than expected in December, down nearly eight percent from a year earlier. But the housing recovery for all of 2012 was surprisingly strong after the collapse that started four years earlier.
Here's what may shape the week ahead for Wall Street: Earnings reports from Best Buy and Walgreens may disappoint, while Lennar and Red Hat probably won't. And fund managers will jump into last quarter's winners to fool clients into thinking they're more clever than they are.
There's never a dull moment on Wall Street -- and next week will be no exception. Here are some of the items that will help shape the week ahead once Monday rolls around.
The Miami-based homebuilder posted a surprise fiscal first-quarter profit as it controlled costs and hedged against housing woes by purchasing troubled loans and properties from banks.
The quarter winds down this week with earnings reports from a handful of companies including Lennar, Family Dollar and Krispy Kreme. And on Friday, investors will zero in on the March unemployment report, which could have the potential to move the market.
Housing data is in the financial spotlight this week, along with an FOMC meeting, the leading economic indicators index and quarterly reports from a number of companies including Adobe, AutoZone and Lennar.
Housing is one cold spot in the economy. Lennar, however, is among the few homebuilders that some big investors are moving back into. Its diversification and appeal to first-time buyers are some of its strengths.
