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Top Stories Bond Report: Treasury yields rise from record low Treasury prices fall, pushing 10-year yields up from their lowest level in history, as traders take a breather after a nine-week rally. They await comments from global officials at the weekend’s Group of Eight meeting.
Al Lewis: Tax man makes it hard to be an American Peter Dunn renounced his U.S. citizenship last year so he no longer would have to deal with the Internal Revenue Service, Al Lewis reports.
NewsWatch: Stock futures up ahead of Facebook debut U.S. stock index futures shake off European worries to post modest gains as investors await Facebook’s much-publicized initial public offering.
Indications: Stock futures up ahead of Facebook debut U.S. stock index futures shake off European worries to post modest gains as investors await Facebook’s much-publicized initial public offering.
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May 18, 2012 9:48 AM EDT
It was a busy week, and a very telling week. What moved the market down were housing data, jobs, and consumer confidence. What brought the market back was the implication that core business was holding firm. First and foremost, housing was hammered. New Home Sales fell 11.2%. Existing Home Sales fell 7.2%. Home prices fell 1.6%. Mortgage applications were off by 8.5%. To top it all off, there was a report from CoreLogic saying that 11.3 millio... full story >>