Top Market Strategist David Rosenberg Dumps AI Trade— And Bets Undervalued Housing Sector Could 'Double Very Quickly'

SanDisk Jumps 10%, Lululemon Crashes 17%: Stock Market Today

A blowout August jobs report pushed traders to price a coin-flip chance of a Federal Reserve rate hike this month, dragging the S&P 500 and Dow lower by midday Friday.

Oil Jumps Near $90 On Iran Risk, California Utilities Crater: Stock Market Today

Brent climbed after new U.S.-Iran strikes, pushing the 10-year yield to a 19-month high; Edison and PG&E collapsed on a wildfire bill.

Buyers Are Backing Away, and Homebuilder ETFs Are Next in Line

U.S. new-home sales plunged 10.5% in July as mortgage rates neared 7%. Here’s what weakening housing demand means for XHB, ITB and other ETFs.

Bessent's Bond Rescue Fizzles, Walmart Craters 9%: Stock Market Today

Long-end Treasury yields snapped back toward 20-month highs; Walmart posted its worst session in four years.

Shares of homebuilding and housing-related companies are trading lower amid an uptick in bond yields and oil prices. Also, recent comments from dovish FOMC voter Cook indicating a willingness to raise rates and reports suggesting that Fed Chair Warsh is open to a September hike if inflation remains hot may have investors seeing elevated mortgage rates.

The Bond Market Sell-Off Is Freezing American Homebuilding

When the bond market sneezes, anything can catch a cold. Its recent bug has not left the housing market unscathed. Domestic homebuilding buckled in July, showing the stress transmitting directly through mortgage