Housing economy stocks shed negative Syria sentiment
Dow Jones, S&P 500 and Nasdaq also showed improvement
The HW 30 ended the day on a positive note, up 0.28%, with majority of the components showing improvement from Tuesday. The markets opened higher, though most notably the Dow Jones slide on fears of a conflict in Syria. The sentiment eased during the day and the HW 30, an equity index of companies most impacting mortgage finance, as well as the Dow Jones, Nasdaq and S&P 500 all closed in positive territory.
Here's a snapshot of how the HW 30 fared:
In the aftermath of Wednesday’s pending home sales report, homebuilders seemed to slip somewhat. D.R. Horton (DHI), Lennar (LEN) and Toll Brothers (TOL) all fell on Wednesday, down 1.22%, 2.01% and 0.65%, respectively.
The big banks were more of a mixed bag on Wednesday. Bank of America (BAC) finished the day up 0.07%. JPMorgan Chase (JPM) dipped slightly, down 0.4% for the day. Wells Fargo (WFC) finished the day up 0.34%.
After a successful day on the market yesterday, two of the three mREIT stocks on the HW 30 took a dip. American Capital Agency (AGNC) and Annaly Capital Management (NLY) both dropped, down 1.66% and 1.56% for the day, respectively. Redwood Trust (RWT), however, was up 0.29%.