National

Market Bounces Up on Poor Housing Numbers

By Adam Davidson, Robert Siegel

Published January 28, 2008 at 1:00 PM PST

This story was published more than 16 years ago.

Housing numbers released Monday morning were much worse than expected, and as a result, the stock market is up across the board.

Why would the market go up on bad news? Well, the answer has a lot to do with the markets wanting another interest rate cut from the Fed and traders thinking an additional round of bad housing numbers might seal the deal.

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National

Adam Davidson

Adam Davidson is a contributor to Planet Money, a co-production of NPR and This American Life. He also writes the weekly "It's the Economy" column for the New York Times Magazine.

Robert Siegel

Prior to his retirement, Robert Siegel was the senior host of NPR's award-winning evening newsmagazine All Things Considered. With 40 years of experience working in radio news, Siegel hosted the country's most-listened-to, afternoon-drive-time news radio program and reported on stories and happenings all over the globe, and reported from a variety of locations across Europe, the Middle East, North Africa, and Asia. He signed off in his final broadcast of All Things Considered on January 5, 2018.