U.S. Stocks Close Lower on Friday, Nasdaq Down 0.7% Despite Improved Sentiment
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Sentiment Improvement: The CNN Money Fear & Greed Index registered at 62 on Friday, indicating a slight improvement in market sentiment while remaining in the 'Greed' zone, suggesting a modest increase in investor confidence.
- Market Performance: The Dow Jones fell approximately 0.2% to close at 49,359.33, with the S&P 500 down 0.06% at 6,940.01 and the Nasdaq Composite also declining 0.06% to 23,515.39, reflecting overall market pressure despite some sector gains.
- Stock Movements: M&T Bank (NYSE:MTB) reported upbeat fourth-quarter earnings on Friday, while Micron Technology Inc. (NASDAQ:MU) surged around 8% after board member Mark Liu purchased $7.8 million worth of shares, indicating strong insider confidence in the company's future.
- Economic Data Review: The Federal Reserve Bank of New York's general business activity index improved from -20.0 to -16.1, signaling a rebound in economic activity, while U.S. industrial production increased by 0.4% month-over-month in December, surpassing market expectations of 0.1%, highlighting economic resilience.
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Analyst Views on DHI
Wall Street analysts forecast DHI stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DHI is 157.00 USD with a low forecast of 117.00 USD and a high forecast of 191.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
3 Buy
6 Hold
2 Sell
Hold
Current: 150.170
Low
117.00
Averages
157.00
High
191.00
Current: 150.170
Low
117.00
Averages
157.00
High
191.00
About DHI
D.R. Horton, Inc. is a homebuilding company. The Company constructs and sells homes through its operating divisions in 125 markets across 36 states. The Company’s segments include Homebuilding, Rental, Forestar, Financial Services, and Other. The Homebuilding divisions are primarily engaged in the acquisition and development of land and the construction and sale of residential homes. The Company’s rental segment consists of single-family and multifamily rental operations. The single-family rental operations construct and lease single-family homes within a community and then generally market each community for a bulk sale of rental homes. The Forestar segment is a residential lot development company with operations in 59 markets across 24 states. The Financial services segment provides mortgage financing and title agency services to homebuyers in many of the Company’s homebuilding markets. It also conducts insurance-related operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Impact of Fed Rate Cut Expectations on Banks and Homebuilders
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