Morning update:
June 9 (Bloomberg) -- The number of Americans signing contracts to buy existing homes unexpectedly rose in April as the first nationwide decline in prices since the 1930s lured buyers back into the market, a private report showed.
June 9 (Bloomberg) -- The number of Americans signing contracts to buy existing homes unexpectedly rose in April as the first nationwide decline in prices since the 1930s lured buyers back into the market, a private report showed.
The index of pending home resales rose 6.3 percent to 88.2, the highest level in six months, following a 1 percent drop in March, the National Association of Realtors said today in Washington.
This news has kept bonds in negative territory, but techs are struggling, mainly due to the price of oil still holding 135 and a drop in AAPL. SPX is also finding resistance at 1370, a key area for bulls to recapture.
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on Monday, June 09, 2008 at 6/09/2008 11:12:00 AM.
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