dow2664
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Negative news posted yesterday regarding housing and since real estate is often viewed as an indicator of the overall health of our economy, investors took pause to process the data. Sales of existing homes dropped lower and median home sale prices dropped again as well. This data was not enough to push index composites into the red for the day however. It was also not enough to push indices lower prior to opening today as tracking of stock futures prior to opening bell were in the green as well. U.S. stocks were positioned for minor gains this morning with the possibility of a fourth consecutive day of positive trending. In mid morning trading the market began to fluctuate from small gains to modest losses. With little economic data due out today, investors will digest a flurry of earnings reports. Japan continues to work towards disaster recovery and nuclear containment and news of their progress has been positive for world markets and increased investors confidence. The military action in Libya continues and the lack of headlines has been treated as a positive indicator that the situation has not escalated. Approaching mid day the major market indexes are trending in the red with modest losses. The Dow dropped 21.39 points or 0.18% to 12015.14. The Nasdaq declined by 8.18 points or 0.30% to 2684.10. The S&P 500 decreased by 4.07 points or 0.32% to 1294.10. The Treasuries 10-year yield gained 0.01 to 3.34%. Oil increased 0.24 to $102.57 a barrel. The U.S. dollar gained 0.0014 to the Euro at $1.42. Author: Pamela Frost
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