| The Nasdaq rallied 1.1% on Monday in a strong performance for U.S. stocks. The S&P 500 added 0.7%, while the Dow and small-cap Russell 2K both gained half a point. Index futures are down slightly in early trading. S&P 500 contracts are currently down 0.1%. A $254 Billion Growth Opportunity There’s no more denying it, the future is in electric cars. The White House is pushing hard for electric cars, and many European countries will phase out gas vehicles entirely in the next decade. One tiny company could be a prime candidate to spearhead the EV revolution, and it’s currently flying under most investors’ radar. Rumor has it, it could be inching closer to landing a deal with a massive partner that could help it become the next big breakout EV stock. Get the Ticker & a Full Report Here 🏡 October's Housing Market DownturnGet ready for some sobering news from the housing front. This Tuesday's existing-home-sales report is set to paint a rather bleak picture, with sales potentially hitting a 13-year low. 🔍 The Stats Speak: Economists are bracing for a 1.5% drop in October sales compared to September, as per The Wall Street Journal's survey.
Sky-high prices and mortgage rates are squeezing many potential buyers out of the market, making the dream of homeownership a bit too dreamy for some.
⏰ Report Release: Mark your calendars for 10 a.m. Eastern time Tuesday when the National Association of Realtors drops the official October stats. 🏠Supply & Demand Imbalance: Despite the slump in demand, don't expect to see a flood of "For Sale" signs. Homeowners are clinging to their nests, thanks to those same high rates, keeping the inventory of available homes quite lean. This scarcity is ironically nudging home prices up in many areas. 📊 Historic Lows Ahead: 2023's full-year existing-home sales are on track to be the most sluggish since at least 2011. 💹 Mortgage Rate Rollercoaster: After peaking to two-decade highs, mortgage rates have recently taken a breather. But don't break out the champagne just yet. October's data mostly reflects the decisions made back in late summer, when rates were more intimidating. 🔮 Where We're Headed In a nutshell, the housing market is navigating through a perfect storm of high prices, high rates, and low supply, leading to a chilly outlook as we head into the end of the year. | 