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 Tumblr
Thanks for your interest. It’s appreciated.
Record-setting gains for shares of U.S. homebuilders are at odds with weakness in bank stocks, according to Michael Hartnett, Bank of America Corp.’s chief global investment strategist. Hartnett compared S&P 500 indexes for the builders and lenders in a report Friday. The housing index climbed 38% for the year through Friday and ended last week at a record, according to data compiled by Bloomberg. The bank index, by contrast, fell 33%. Based on the groups’ historical tendency to move in tandem, Hartnett wrote this about the outlook: “Either housing buckles or banks play catch-up.”