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Housing and Insurance Industries Buoy Stocks

Wednesday, April 8th, 2009 | Link | Spread The Word!

Ending a two day slide, traders bought insurance and housing stocks as a result of some indications that the housing market may be close to a rebound. The recent slide seems to be the result of jittery investors worries about upcoming quarterly earning reports.

Today a $1.3 billion deal between Pulte Homes Inc. and rival Centex Corp. gave investors some reason to think that the new company, now America’s largest homebuilder was a reason for optimism in the homebuilding sector. The optimism didn’t ripple throughout the rest of the industry as other homebuilders, were mixed.

Insurers enjoyed a bump in sales today in the wake of a report by the Wall St. Journal that the government may be providing bailout funds for a struggling life insurance industry. An announcement is expected as soon as tomorrow.

Pass the Beans!

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