America [“Park East Capital”] US home improvement company Lowe’s has improved its profit forecast for the year.
Wall Street received a pleasant surprised today when Lowe’s announced it improved its profit forecast for 2010. On the back of this news their share price rose installing more confidence in the market.
“Park East Capital” has been reporting over recent weeks the increase in positive news stories coming out, highlighting the fact that the economy is slowly turning the corner. “This news is a good indication that the housing marketing is beginning to improve,” explains “Park East Capital” senior analyst.
Most analysts agree that the housing market is key to the US economy getting back on track. Although the housing market has a long way to go we are near the bottom.
“Park East Capital” senior analysts go on to say, “consumer confidence is getting better and we have seen an improvement in the housing market. Some areas in the US have bottomed out, but others still have to reach the bottom. The main thing to understand is that the housing market decline seems to be ending.”
In the whole this is some of the best positive news we have had in months. The Global economy will be please with what’s happening in the US.
