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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (58453)	2/4/2005 1:54:46 PM
From: Snowshoe	Read Replies (1) \| Respond to of 74559

>>I doubled the number of shorted TOLL Brothers' shares<< Jay, as Russian envoy Viktor Chernomyrdin said to Yugoslav President Slobodan Milosevic near the end of the Kosovo war: "Are you ready to give up yet?"... Jobs report boost home construction stocks yahoo.reuters.com Fri Feb 4, 2005 01:29 PM ET NEW YORK, Feb 4 (Reuters) - Shares of U.S. home builders on Friday reached record highs after a slightly disappointing jobs report sent long-term interest rates down. "It's the job report," Parker/Hunter analyst Lawrence Horan said. "We got growth which is good. But it's not at a pace where people are concerned about inflation." Low inflation helps to keep mortgage rates down and boosts spending power for home buyers. That buoyed the enthusiasm of home builder investors. The Dow Jones U.S. Home Construction Index , a wide barometer of home building stock activity, rose 4.4 percent to a record high of 880.08 before settling back at noon to 879.17, still a high. During the day, shares of nearly all the top 10 home builders reached record highs. D.R. Horton Inc.(DHI.N: Quote, Profile, Research) , the No. 1 U.S. home builder, saw its shares rise more than 6.6 percent, or $2.66, to $43.27. Toll Brothers Inc.(TOL.N: Quote, Profile, Research) was up 4.2 percent, or $3.33, to $81.99. KB Home (KBH.N: Quote, Profile, Research) rose 3.17, or $3.65, to $115.65. The U.S. Labor Department Friday morning reported non-farm payrolls rose 146,000 in January, below analysts' forecast of a 190,000 gain. December's jobs gain was revised down by 24,000 to 133,000. The report sent the yield on the 10-year Treasuries, which influence mortgage rates, sharply lower to rates not seen since November.