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Five Major Data Points Before Holiday
Two hours before the opening bell and one hour before three major data points hit the markets, stocks are looking to recovery from yesterday’s modest decline.rnrnFutures on the Dow are trading 40 points higher at 10,445 while those on the S&P 500 are up 5.25 points to 1,108. rnrnThe US dollar is in 15-month rut this morning, “as risk appetite was boosted by some decent data and positive central bank talk,†according to BMO economist Benjamin Reitzes.
Freddie Mac’s Portfolio Up 0.7 Percent in October
Freddie Mac released its October activity report Tuesday morning. The total portfolio increased by 0.7 percent - the third month in a row that the portfolio grew. Delinquencies also continue to increase.
S&P/Case Shiller: Home Prices Improving at Slower Pace
U.S. home prices, as measured by the 20 city index rose by 0.3% on a month over month basis, less than the anticipated 0.8% gain. The 10-city index rose 0.4% from August. According to S&P/Case Shiller data, home prices have risen for five straight months. However, as pointed out above, in August 17 of 20 cities reported month over month appreciations whereas in September only 10 of 20 cities reported month over month improvements. More below.
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