Stocks Opened higher today in terms of the Housing Data


The US stocks have opened in a good manner today, which can be termed to be an initiative from the side of the investors for lowering down the concerns that have been created on the Cyprus issue. Moreover, the housing data is also going very strong. The investors have now been encouraged with the reports that have been published from the side of the Census Bureau that the housing starts have risen by 0.8 % in the month of February. At the same time, the building permits have also risen by 4.6 %. It is also crucial to note here that the building permit data is also classified to be the proxy in terms of notching the builder confidence.

Despite of all the good news in terms of the housing markets, the investors are still eyeing on Cyprus. Not to forget here that this heavily indebted nation has been the prime spot light in the past week, which is indeed a point to consider for the investors. Moreover, the European Union has also been trying the imposition of some a new one time tax on all the bank deposits. Gizem Kara is of the view that the European Union had indeed taken a difficult move without estimating the consequences properly. The effects of this move would be spread to all the neighboring economies and countries. Kara also added that initially the effects might not be visible to us, but soon the effectuations would start to emerge.

Investors are also worried that the financial turmoil would also be spreading out to Russia, Europe and also towards the Wall Street. US Stocks had also fallen yesterday in lines to the Cyprus deliberations. But still it can be said the markets are giving a good run for the money. This is also includes the record performance which spanned to about 8 days. Moreover, the three major indexes are also going up in comparison to the past. Since the start of the year, signs of optimism and growth are visible due to which investors are not worried to lose their profits in the United States. The economy is now on the road to ultimate recovery. Despite of the chaos that was created in the past year, USA remains one of the strongest and largest economy of the world. The upcoming days at the Stock market are also going to be crucial for the investors.