Stocks rose for the first time in three days yesterday as crude prices stabilized after a record plunge while better-than-expected earnings also lifted market sentiment.
In an April survey of the National Association of Realtors, 90% of their members said buyer interest has declined since the pandemic. Also, 59% said buyers are delaying home purchases for a couple of months and 57% said sellers are delaying home sales for a couple of months. Homes that are on the market are often just sitting there. According to Zillow the inventory of listed homes is up about 2.5% overall since March 1.
Chipotle Mexican Grill said their sales rose 8% in the first quarter, thanks in large part to a surge in online sales that accounted for more than a quarter of the three-month revenue. Shares jumped 12%
The pandemic has already pushed demand for some more costly consumer products off a cliff. AT&T posted its lowest-ever postpaid smartphone upgrade rate in the first quarter in what could be a distressing sign for smartphone manufacturers.
With Northwest Quadrant Wealth Management, I’m Tyler Simones