Pending Home Sales Rise
Stocks rallied on the news that housing sales were going up. Is that good news? See below.
Bonds fell in value (increased interest rates) as the stimulus package is batted around like a baseball with no one really knowing how it will come out.
The Dollar fell against the Euro and was steady against all else. Gold fell again as profit taking continued.
Oil and gasoline went up slightly.
In the news today…..
Sen. Tom Daschle gave up trying to get approval to be the Health Care Czar. I am very sorry he did that because I really wanted to create a satire on him. Oh well, good for the country. It will be interesting to see who is the “second choice.” That will be a hard thing to accept. One more scumbag bites the dust.
Pending Home Sales ROSE 6.3% in December. This is great news, but it isn’t the whole story. The key to getting out of the housing mess we are in is to stop the falling house prices, and turn them around – or at least stabilize them. Prices are still falling. However, let’s celebrate this one small piece of good news, and hope it continues.
Here are the last numbers:
Dow Jones 30 Industrial – 8078 (up 142 points)
10 Year Treasury Bond – 2.84% (up 0.12%)
Euro – $1.3037
Gold – $893 (down $15)
Oil – $40.79 (up $0.70)
Gasoline – $1.17 (up $0.02)
