What The Experts Are Looking At During Wednesday's Trading
Tim Rood, co-founder and partner of Collingwood Group, and Tim Courtney, a financial advisor at Exencial Wealth Advisors, both appeared on CNBC after the bell Tuesday, where they went over the market movements that investors should keep their eyes on during Wednesday's trading.
Courtney said that Exencial Wealth Advisors' people will be looking at new home sales, durable goods orders, to gauge both the housing market and the overall economy respectively, to help configure consumer confidence numbers.
According to Courtney, if the nominal gains seen in the economy continue, then "that's what the market is priced for."
"The market is priced for nominal increases in economics and in profits, and if we see that, then I think a well-diversified U.S. large-cap portfolio should do well," said Courtney.
Rood and his folks at Collingwood Group will be looking at the Federal Housing Administration's announcement that they might be required to draw funds from the treasury department for the first time in 80 years due to a financial shortfall. The shortfall was cause by the FHA's financial action that helped save the market during the housing crisis. The short-term cost will be anywhere from $1.5 to $2 billion, creating a "temporary, but negative impact, on the markets tomorrow."
At the time of this writing, Jason Cunningham had no position with the mentioned entities. Visit Jason on Twitter @JasonCunningham.
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