Dear Chart of the Day Fan:
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:05 p.m. (1:05 p.m.) on the radio and later on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Earlier charts are on my Substack page.
Thanks for your interest. It’s appreciated.
Homebuilding stocks have yet to escape from a “penalty box” they entered after the U.S. housing market collapsed more than a decade ago, according to Bryce Coward, deputy chief investment officer at Knowledge Leaders Capital LLC. He looked at the relationship between the S&P 500 Homebuilding Index and the S&P 500 in a blog post last Friday. The indexes’ ratio was little changed Thursday from its level eight years ago, according to data compiled by Bloomberg. Yet the industry’s sales per employee, a productivity indicator cited by Coward, almost doubled in relative terms. “This implies catch-up potential,” he wrote.
Stocks Editor, Bloomberg RadioEditor, Chart and Stock of the DayStock of the Hour, Bloomberg Television
Author, Visual Guide to Financial Markets