(KRON) – On today’s Winners & Losers, financial expert Rob Black discusses stocks rising as new home prices fall.

Winner: Stocks rise waiting on Federal Reserve update

Stocks rose as traders awaited the Federal Reserve’s release of its policy meeting from earlier this month.

The stock market’s fragility was on full display yesterday. Mega-cap stocks are struggling.

Russia is stepping up its military effort in eastern Ukraine in a push to win control of the Donbas region.

Beijing continues to wrestle with COVID cases, which is lending to nervousness about the potential for increased lockdown restrictions.

Dick’s Sporting Goods (DKS) trading was down 12% after issuing Fiscal Year 2023 EPS guidance well below consensus to account for the expected impact of the “evolving macroeconomic conditions.”

Elon Musk’s $1.1 billion Twitter profit is now a $40 million loss.

Toyota finally has a product to compete with Tesla. Despite an awkward name and mixed reviews, the bZ4X could be the most consequential electric vehicle launched this year.

Loser: New Home Sales Fall Sharply

A recession alarm has been sounded. The buying frenzy that’s boosted the housing market throughout the pandemic might be quickly losing momentum.

Sales of new single-family homes fell sharply 16% in April for the fourth straight month, dragged down by high prices and rising mortgage rates.

The month-over-month slide was the biggest since 2013, and the rate of sales was the lowest in two years.

Robert Dietz, the chief economist for the National Association of Home Builders, called the plunge “a clear recession warning for the overall economy for the quarters ahead.”

The residential real estate market is slowing down: rising mortgage rates and home prices have put pressure on home affordability.

A significant number of prospective home buyers are being priced out of the market.

Existing-home sale numbers out last week from the National Association of Realtors showed a decline.

Last month, the median sales price of a new home in April was $450,600, a 19.6% increase from a year ago

On Wall Street, builder stocks were trading lower. D.R. Horton, Lennar, NVR, and PulteGroup, the four largest public builders by market capitalization, were down between 2.5% and 3.8%.