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Joe Raedle / Getty ImagesEdward Seiler is the associate vice president for housing economics at the Mortgage Bankers Association. Phil Rosen: The MBA's Purchase Applications Payment Index just hit a new high in April. For new home buyers, this is the worst situation since the end of the Great Recession. Current homeowners that were lucky enough to get a 2.75% interest rate in 2022 are in a great position, but for new buyers looking to buy a first home, or those looking to move to another home, it's a very daunting proposition. In his view, monthly payments for first-time buyers are up roughly one-third compared to last year — and that's going to keep buyers on the sidelines and weigh on demand.
Persons: I'm Phil Rosen —, Joe Raedle, Edward Seiler, Phil Rosen, Jen, Hsun Huang, Huang, Kim Kulish, Gregg Fisher, he's, Jensen Huang, It's, There's, Evercore's Mark Mahaney, Meta, shouldn't, David Rosenberg, who's, Larry Pitkowsky, Max Adams Organizations: Mortgage, Association, Twitter, Nvidia Corp, GPU Technology, Nvidia, Treasury Department, Fed, Tech Locations: San Jose , California, New York
Anyway, this lopsided distribution is exactly what's showing up in the stock market right now. The S&P 500 has climbed about 9.2% this year, but just five stocks are powering most of that gain in an even more extreme rendition of the Pareto distribution. In previous streaks of strong outperformance of five months or more by supersized companies, he pointed out that the S&P 500 has averaged returns of 6.7% in the subsequent six months. "[P]utting mega caps aside, we found that narrow market breadth in general does not represent a bad omen for S&P 500 performance despite the contrary narrative being pushed by many investors," Belski added. What's your outlook for the rest of the stock market this year, not including mega-caps?
Persons: Phil Rosen, ChatGPT, Tim Cook, Jerod Harris, Brian Belski, Belski, Elon Musk, Jonathan Ernst, Redfin, Larry Pitkowsky, Bitcoin, Max Adams, Nathan Rennolds Organizations: Apple, Getty, Nvidia, Microsoft, BMO, Reuters, Dell Technologies, Broadcom, Bank of America Locations: Beijing, China, United States, New York, London
His investing process revolves around finding quality stocks with growth that are still discounted. Here are Pitkowsky’s secrets to success — and six stocks he’s bullish on right now. That puts it on pace for its best relative finish since Pitkowsky launched the fund in 2011. In a recent interview with Insider, the fund manager said he's "pleased but not satisfied" with how he's fared this year. 6 top stocks to buy nowWhen Pitkowsky finds stocks that match that description, he's not shy about loading up on them.
Persons: Larry Pitkowsky, , Larry Pitkowsky's, Morningstar, Pitkowsky, hasn't, he's, Stocks, there's Organizations: Companies
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