HEDGEYE TV
What's Happening in Macau and What it Means for Key Gaming Stocks
Todd Jordan, Managing Director of Hedgeye's Gaming, Lodging and Leisure team, talks with fellow analyst David Benz about business conditions in Macau and the impact on these five stocks.
https://www.youtube.com/watch?v=QLmOkRYnzZg
CARTOON
US GDP contracted 2.9% in the first quarter, the government reported earlier this week. That took many on Wall Street by surprise but not the team at Hedgeye who had been telling you for months that growth was slowing.
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CHART
POLL
Mortgage purchase applications are down 18% year-over-year. The only recovery in housing at this point is the new and high end market ($1M+). Hedgeye's expectation remains that the back half of this year, and the first half of 2015, should see steady downward pressure on the rate of home price appreciation.
In one of our polls from this week, we asked if you thought the housing market was headed higher or lower. More than half of you (54%) told us that you expected housing to head lower.
In the video below Financials Sector Head Josh Steiner says that various aspects of the U.S. housing market are deteriorating and describes how changes in housing prices and volumes are causing a major inflection point in this $18-19 trillion asset class.