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Monday stocks reach 6 month high with better than expected reports from the housing sector on existing home sales. At open on Tuesday, stocks drop with the release of the Case-Sheller 20 city index of home prices. The index reports on housing prices in major metro areas and suggests that the market continues to be sluggish with a decline in prices 0.2% in August. As prices in the housing market fall below economists expectations, increased anxiety builds. Investors continue to fear the affect that the November elections may have on the Bush Tax Cuts. The cuts which are set to expire at the end of the year could greatly impact the economy. This week a line up of corporate and economic reports are anticipated. So far corporate quarterly reports continue to exceed expectations and the consumer confidence index, released earlier today, rang in at 50.2. This reading is up from 49 the previous month and higher than economists anticipated reading of 49. At mid day the market turns positive with all indices in the green. NASDAQ is up 10.16 points or 0.41% to 2501.01. DJIA is up 1.89 points or 0.02% to 11165.94. S&P 500 is up .6 points or 0.05% to 1186.22. The dollar is up. The Treasurys 10-year yield is up 0.07 to 2.62%. Crude oil is up 0.10 to $82.63 a barrel. Author: Pamela Frost
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