S&P Case-Shiller Home Price Indices data will be released at 9 a.m. ET during Squawk on the Street. Several major homebuilders are trading significantly below their recent highs: Lennar is down 37 % from its December peak, KB Home 29 % from February, and Hovnanian 24 % from June. The 30-year fixed mortgage rate stands around 7.5 % while U.S. home equity has reached record highs. The airline sector is also under pressure with Alaska Air down 35 % from its February high, and cruise company Carnival having fallen 24 % over the past three months.
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