Sinead's Feed
Jul 9, 2015

REIT rate hike fallout fears may be overdone

By Sinead Carew and Chuck Mikolajczak

(Reuters) – After a meteoric rise in 2014, shares in many real estate investment trusts (REITs) have crashed back to earth this year as the market braces for a U.S. interest rate hike, but the reversal in sentiment may have gone too far.

REIT shares peaked at the end of January, and have fallen 12.3 percent since on fears that the Federal Reserve’s first interest rate hike in years could hurt the sector. Rising rates increase the costs for REITs that have to borrow heavily for new investments. Furthermore, yield-hungry investors who buy REITs for their high dividends during times of low bond yields often abandon them once bond yields start to rise.

Jul 2, 2015

Wall St edged down on Greece worries, tepid U.S. data

July 2 (Reuters) – U.S. stocks closed down slightly on
Thursday after the International Monetary Fund warned Greece
ahead of its Sunday referendum that it faces a huge financial
hole, and mixed jobs data dampened the U.S. economic outlook.

While the IMF was warning that Greece needed an extra 50
billion euros over the next three years to stay afloat, Greek
Prime Minister Alexis Tsipras was urging voters to reject a
bailout offer from lenders and saying he hoped to sign a new
deal on Monday.

Jul 2, 2015

Wall St falls on simmering Greece worries, tepid data

July 2 (Reuters) – U.S. stocks extended losses on Thursday
after the International Monetary Fund warned Greece may need a
large debt write-off, and muted U.S. jobs data dampened the
economic outlook.

Seven of the 10 major S&P sectors were in the red in late
afternoon trading, after a positive opening on the last day of
trading before a long weekend.

Jul 1, 2015

Wall St ends higher but energy stocks fall and Greece hopes waiver

July 1 (Reuters) – U.S. stocks closed higher on Wednesday
but were down from earlier highs as energy stocks declined and
Greece’s debt crisis showed no clear signs of resolution.

The benchmark S&P 500′s energy sector was dragged down by
the biggest slide in oil prices since April after traders were
surprised by a report that showed U.S. crude stockpiles rose for
the first time in more than two months.

Jul 1, 2015

Wall St. trims gains; energy stocks fall, Greece hopes fade

By Sinead Carew

(Reuters) – U.S. stocks rose on Wednesday afternoon but pared earlier gains as energy stocks declined and Greece’s debt crisis showed no signs of resolution.

The benchmark S&P 500′s energy sector fell steadily throughout the day, dragged down by a slide in oil prices after a report showed U.S. crude stockpiles rose for the first time in more than two months. [O/R]

Jun 30, 2015

Wall St ends up on Greek hopes ahead of debt deadline

June 30 (Reuters) – U.S. stocks finished up after a choppy
trading day as investors held out hope on Tuesday for deal to
keep Greece in the euro even as it veered close to a potential
debt default.

Greece, hours from missing a 1.6 billion euro ($1.8 billion)
payment due to the International Monetary Fund, submitted a new
aid proposal to its creditors, calling for debt restructuring in
what seemed like a last-ditch effort by Athens to resolve its
impasse with lenders.

Jun 30, 2015

Wall St. turns up on Greece hopes despite looming default

By Sinead Carew

(Reuters) – U.S. stocks turned positive around mid-afternoon in choppy trading on Tuesday as investors hoped for a last-minute deal to keep Greece in the euro.

Greece, hours from missing a 1.6 billion euro ($1.8 billion) payment due to the International Monetary Fund, submitted a new aid proposal to its creditors, calling for debt restructuring in what seemed like a last-ditch effort by Athens to resolve its impasse with lenders.

Jun 29, 2015

Wall St tumbles as investors flee equities on Greek debt crisis

June 29 (Reuters) – U.S. stocks fell sharply in heavy
trading on Monday and the S&P 500 and the Dow had their worst
day since October after a collapse in Greek bailout talks
intensified fears that the country could be the first to exit
the euro zone.

The European Central Bank froze funding to Greek banks,
forcing Athens to shut banks for a week to keep them from
collapsing.

Jun 29, 2015

Wall St. falls on Greek default fears, volatility spikes

By Sinead Carew

(Reuters) – U.S. stocks extended their losses in heavy trading on Monday after a collapse in Greek bailout talks intensified fears that the country could be the first to exit the euro zone.

Greece appeared to confirm it was heading for a default after a government official said the country would not pay a 1.6 billon euro loan installment due to the International Monetary Fund on Tuesday.

Jun 19, 2015

Investors eye improvements in data for housing stocks

By Caroline Valetkevitch and Sinead Carew

(Reuters) – Housing stocks rallied on Friday and the industry group should get more good news next week, though sustained and robust future gains may depend on wage growth and other signs of improving home affordability.

On Monday, the National Association of Realtors is expected to report strong growth in existing home sales for May. On Wednesday, Lennar (LEN.N: Quote, Profile, Research, Stock Buzz), the No. 2 U.S. homebuilder is expected to report that it had a strong second quarter.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
    • More from Sinead

    • Follow Sinead