While you were sleeping: US housing shows strength

Tue, 24 May 2016

By Margreet Dietz May 25 (BusinessDesk) - Equities on both sides of the Atlantic moved higher, as did the US dollar, as investors warmed to the idea that the US Federal Reserve might raise interest rates as early as June, while Toll Brothers’ earnings and new home sales exceeded estimates. A Commerce Department report showed that US new home sales soared 16.6 percent to a seasonally adjusted annual rate of 619,000 units, the highest level in more than eight years, accelerating from an upwardly revised sales rate of 531,000 units in March....

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