GM : Layoffs May Indicate Turmoil Ahead
The past week saw big moves in mortgage and home builder stocks. This blog blamed the nervousness on the General Motors situation. A report from CBS MarketWatch tells us there may be more to come regarding the mortgage giant.
The headline; "GM to cut white-collar jobs, up to 28% of nonunion positions could be eliminated." Add in a Federal Reserve meeting that is expected to announce a rate hike and it could be an interesting week for housing stocks.