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US Residents Prefer Sunlight Over Home Size, Redfin Survey Shows

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US Residents Prefer Sunlight Over Home Size, Redfin Survey Shows

A big chunk of US residents prefer living in smaller homes with more sunlight than in larger, dimmer units, a Redfin survey showed on Monday.

Some 44% of respondents prioritize natural light over square footage, compared with 24% who prefer a larger home with less sunlight, according to the online real estate brokerage.

The survey, conducted by Ipsos in March, covered 1,005 US residents.

All age groups prefer sunlight over space, led by baby boomers at a 54% share for their generation, according to the survey results.

Roughly 1 in 10 US residents said they would consider sunlight a "non-negotiable" feature when choosing their next home, a separate survey question showed. Some 77% identified natural light as a "very important" or "somewhat important" consideration for future homeownership, but ultimately something they might be willing to compromise on.

"I have buyers who walk into a home that checks every box online and walk right out after making it past the entryway because of low light," Redfin principal agent Cassia Bourne said in a statement.

More than half of the natural light-seeking respondents cited improved mood and mental health as their primary motivation, Redfin said.

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S&P 500, Nasdaq Reach New Peaks as Traders Track US-Iran Conflict
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S&P 500, Nasdaq Reach New Peaks as Traders Track US-Iran Conflict

The S&P 500 and the Nasdaq Composite hit fresh highs on Monday as traders continued to track developments in the Middle East that sent oil prices rising.The S&P 500 rose 0.2% to 7,412.8, while the Nasdaq added 0.1% to 26,274.1 -- both logging new closing highs. The Dow Jones Industrial Average climbed 0.2% to 49,704.5.Six of the 11 sectors ended in the green, led by energy, while communication services saw biggest drop.West Texas Intermediate crude was last up 3% to $98.25 a barrel, while Brent advanced 2.9% to $104.23.US President Donald Trump on Sunday rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz.The US-Iran ceasefire is on "massive life support" and "unbelievably weak," news outlets reported Monday, citing Trump.Iran's proposal, delivered via mediator Pakistan, sought an immediate end to hostilities, the lifting of the US naval blockade of its ports and assurances against further aggression, BBC News reported, citing Iran's semi-official Tasnim news agency.Trump is scheduled to arrive in China Wednesday for a high-stakes state visit, with talks set to take place Thursday and Friday."The US will want China to use its influence with Tehran, especially because China is a major buyer of Iranian oil," Saxo Bank Chief Investment Strategist Charu Chanana said in a report Monday. "China, meanwhile, wants energy security and stable shipping lanes, but it is unlikely to appear as if it is acting under US instruction."US Treasury yields were higher, with the 10-year rate up 5.6 basis points at 4.42% and the two-year rate rising 6.7 basis points to 3.96%.Some 89% of S&P 500 companies have reported quarterly results in the latest cycle, with earnings up about 25% from a year earlier and revenue rising 10%, Oppenheimer Asset Management said in a note. Ahead of the earnings season, FactSet put expected earnings growth at 12.6% year over year."Notwithstanding the recent powerful rallies in stocks driven by earnings growth and better than expected US economic data over the past week, challenges remain to finding resolution to the conflict in the Middle East," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said.Cisco Systems (CSCO) and Applied Materials (AMAT) are among the major names scheduled to report this week.Nvidia (NVDA) rose 2%, among the best performers on the Dow, while Qualcomm (QCOM) jumped 8.4%, among the biggest gainers on the S&P 500.Lumentum (LITE) shares surged nearly 17%, the top gainer on the S&P 500, after the company said it is set to join the Nasdaq-100 index, effective May 18.Trade Desk (TTD) shares slumped 6.8%, among the worst performers on the S&P 500, after HSBC downgraded the stock to reduce from hold while adjusting its price target to $20 from $31.Fox (FOX, FOXA) reported a surprise increase in quarterly earnings, while the media company's revenue topped estimates amid distribution growth. Fox's class A and B shares rose 7.6% and 8.1%, respectively.In economic news, US existing home sales increased less than projected in April, data from the National Association of Realtors showed."Despite mixed macroeconomic signals -- including a record-high stock market and historically low consumer confidence -- home sales were modestly boosted by the continued improvement in housing affordability," NAR Chief Economist Lawrence Yun said.Gold was last up 0.3% at $4,744.50 per troy ounce, while silver jumped 7.1% to $86.61 per ounce.

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Gold Recent Underperformance Will Likely Prove to be Temporary, ING Says
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Gold's recent underperformance should prove to be temporary, with the yellow metal expected to hit $5,000 per troy ounce by the end of the year, ING Bank said in a note Monday.Gold has fallen about 12% since the Iran war began on Feb. 28, ING said. Bullion futures were last trading little changed at $4,732 per ounce on Monday.Gold is widely perceived as a safe haven that tends to shine in a financial crisis or growth shock. Hence, the yellow metal's recent decline may have come across as "a counterintuitive move," ING Commodities Strategist Ewa Manthey said in a note.But the sell-off reflects macro consequences of the Middle East conflict, rather than "a breakdown in gold's safe-haven role," Manthey said.ING remains constructive on gold, anticipating a rebound in bullion prices to $5,000 by year-end."Gold's safe-haven role is not in question," Manthey said. "Recent months have shown that short-term price action can still be dominated by macro forces -- particularly real yields, the dollar and expectations for (Federal Reserve) policy. Once those headwinds begin to ease, gold's underlying support should reassert itself."Gold prices generally have a positive correlation with inflation and an inverse relationship with interest rates and the dollar index.Inflation has re-accelerated in the aftermath of the US-Israel war with Iran that has disrupted shipments through the Strait of Hormuz and sent energy prices higher. These dynamics have weakened the case for near-term monetary policy easing, Manthey said."Higher oil prices push inflation up, keep (central bank demand) on hold and strengthen the dollar, all of which weigh on gold," she said. "High liquidity also makes it a source of funds when investors need to cover losses elsewhere."The Fed left its policy rate unchanged in April, saying the Middle East conflict was fueling uncertainty around the US economic outlook."Our US economist still expects easing in the second half of the year, but a prolonged energy shock could push that back," Manthey wrote. "Real yields and the dollar remain the key constraints on gold."President Donald Trump on Sunday rejected Iran's counter offer to end the war, dimming prospects of an imminent deal between the two sides."The setback keeps the (US-Iran) ceasefire timeline uncertain and inflation risks elevated -- reinforcing the higher-for-longer rate narrative that has weighed on gold throughout the conflict," Manthey said. "A durable resolution remains the key catalyst for a sustained gold recovery."

Equities Rise Intraday, Oil Jumps as Markets Montior Middle East Developments
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US benchmark equity indexes were higher intraday as traders appeared to shake off worries about the Middle East conflict and higher oil prices.The S&P 500 was up 0.3% at 7,421.2 after midday Monday, while the Dow Jones Industrial Average and the Nasdaq Composite rose 0.2% each to 49,691.7 and 26,308.6, respectively. Among sectors, energy paced the gainers, while communication services saw biggest drop.West Texas Intermediate crude jumped 3.7% to $98.98 a barrel, while Brent advanced 3.5% to $104.87, as US President Donald Trump rejected Iran's counteroffer to end the war, extending uncertainty around oil flows through the Strait of Hormuz.The US-Iran ceasefire is on "massive life support" and "unbelievably weak," news outlets reported Monday, citing Trump. On Sunday, Trump described Iran's response to Washington's peace proposal as "totally unacceptable."Iran's proposal, delivered via mediator Pakistan, sought an immediate end to hostilities, the lifting of the US naval blockade of its ports and assurances against further aggression, BBC News reported, citing Iran's semi-official Tasnim news agency."While optimism for an imminent deal is fading, there remains a glimmer of hope that talks between Trump and Chinese President Xi (Jinping) later this week could yield positive results on Iran," ING Bank said in a note Monday.Trump is scheduled to arrive in China Wednesday for a high-stakes state visit, with talks set to take place Thursday and Friday.US Treasury yields were higher intraday Monday, with the 10-year rate up 4.7 basis points at 4.41% and the two-year rate rising 4.2 basis points to 3.94%.In company news, some big technology names were advancing, with Nvidia (NVDA) up 2.6%, the second-biggest gainer on the Dow. Micron (MU) and Qualcomm (QCOM) also saw sizable gains.Some 89% of S&P 500 companies have reported quarterly results in the latest cycle, with earnings up about 25% from a year earlier and revenue rising 10%, Oppenheimer Asset Management said in a note. Ahead of the earnings season, FactSet put expected earnings growth at 12.6% year over year.Cisco Systems (CSCO) and Applied Materials (AMAT) are among the major names scheduled to report this week.Lumentum (LITE) shares surged 17% intraday Monday, the top gainer on the S&P 500, after the company said it is set to join the Nasdaq-100 index, effective May 18.Trade Desk (TTD) shares were down 7.1%, the worst performer on the S&P 500, after HSBC downgraded the stock to reduce from hold while adjusting its price target to $20 from $31.In economic news, US existing home sales increased less than projected in April, data from the National Association of Realtors showed."Despite mixed macroeconomic signals -- including a record-high stock market and historically low consumer confidence -- home sales were modestly boosted by the continued improvement in housing affordability," NAR Chief Economist Lawrence Yun said.Gold was down 0.2% at $4,722.50 per troy ounce, while silver jumped 6.2% to $85.90 per ounce.

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