Tax Season is Here! Save 15% on H&R Block Online
iconAll times are GMT -4. The time now is 09:37 PM. | Search:

» StockRants Stock Forum » General Forums » Traders Lounge » Housing Continues to Show a Mixed Picture, GBP Heads Towards Support



Reply
 
Thread Tools Search this Thread
Old 01-06-2010, 11:19 PM   Nav to Top  #1
dodjit
Senior Trader
 
dodjit's Avatar
 
Join Date: Aug 2009
Location: nicossia
Posts: 102
Rep Power: 139
Reputation: 123
dodjit will become famous soon enoughdodjit will become famous soon enough
Default Housing Continues to Show a Mixed Picture, GBP Heads Towards Support

The major indices were put to the test yesterday, after a positive start turned into a mixed session. After jumping higher at the start of the session, the two major indices; the Dow Jones and S&P500 dropped into negative territory. Housing data and Factory orders were the culprits of yesterday’s session, both having an intraday effect.

Pending home sales dropped 16% in November, the sharpest decline since the National Association of Realtors started tracking the data, in 2001. The report broke a major 10 month rally, which had been associated with increasing home sales since February. Despite the negative housing data, which is clearly showing that the sector is still struggling, Factory Orders hit the board showing improvement. New Orders for manufactured goods rose 1.1% in November, compared to economists’ expectations of a 0.5% figure. According to the Federal Reserve Bank of Cleveland, nondefense capital goods excluding aircraft bounced in November by a whopping 3.6%, while shipments continued to show improvement, increasing by 1%.

Read the full article at dodjit.com
dodjit is offline   Rate this post Yes | No Reply With Quote
Reply

Similar Threads
Thread Thread Starter Forum Replies Last Post
Mixed Thoughts, GDP ahead, Euro approaching Critical Support dodjit Traders Lounge 0 10-28-2009 04:49 AM
Jobless Claims had only a Mild Impact, The Dollar Continues to Show Weakness dodjit Traders Lounge 0 10-23-2009 06:31 AM
Housing Data Disappoints, EUR/USD and GBP/USD Hold their Ground dodjit Traders Lounge 0 10-21-2009 11:04 AM
The Bigger Picture and Some Intermarket Analysis dodjit Traders Lounge 0 08-17-2009 03:47 AM


Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On