D.R. Horton Inc.’s adjusted earnings of 45 cents per share in the fourth quarter of fiscal 2014 missed the Zacks Consensus Estimate of 49 cents by 8.2%.

December E-mini S&Ps (ESZ14 +0.17%) this morning are up +0.07% at a fresh record high on optimism the U.S. economy can weather a global slowdown and the end of the Fed's bond purchases.

Benchmarks eked out small gains on Wednesday following Fed’s decision to continue with low rates for a “considerable time”. Meanwhile, strong home builder confidence along with better-than-expected quarterly results of Lennar helped housing stocks outperform the broader markets.

September E-mini S&Ps (ESU14 +0.07%) this morning are up +0.02% and European stocks are down -0.26%. The EU's second package of economic sanctions against Russia was put on hold for a "few days" to allow for more time to assess the viability of a cease-fire and a peace plan in Ukraine.

September E-mini S&Ps (ESU14 +0.31%) this morning are up +0.24% on optimism that this morning's ADP employment report will show solid gains in employment last month, while European stocks are little changed ahead of the results of today's ECB meeting.

My own "back-of the-napkin" analysis to help investors and traders connect the dots and see the bigger picture of a residential real estate capital market theme which is far from over and offers a credible risk-to-reward opportunity.