Home Construction Builds Stocks Back Up (Bloomberg)
Following yesterday’s worst session in a month, stocks rebounded today, led by a better-than-expected rise in the pace of home construction. ???When you have sharp sell-offs, you have a lot of buyers on the sidelines waiting for that weakness,??? James Paulsen, the Minneapolis-based chief investment strategist at Wells Capital Management, said. ???Certainly the housing numbers calmed a fair number of fears. People feel secure after a 1 percent sell-off and want to go long into the weekend.???