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Housing Starts, Jobless Claims, Philly Fed Survey, TSY Supply
Equity futures are pointing up this morning as investors hope to keep the rally going for a fourth straight day. Since Monday the S&P 500 has gained 32.2 points, or 3.11%, pushing the index to a new 11-month high. Futures are currently extending those gain by 1.7 points.rnrnAppetite for equities has strained the US dollar, which sits at yet another 2009 low this morning. Gold is trading near record highs at $1020 per ounce, and natural gas prices are “simply on fire ― up 50% in the past two weeks, though down slightly overnight,†as Sal Guatieri from BMO put
House Bill Encourages Increased Warehouse Lending
HR 3146, passed the House of Representatives on a voice vote Tuesday afternoon. The bill permits flexability in hiring and compensating staff, provides authority to update agency information systems, and encoursages officials to increase the borrowing capacity available to qualified mortgage lenders.rn
Mid-Day Recap: S&P 500 Makes Fresh 11-Month High
Stocks are higher again today, marking gains in eight out of the last nine trading sessions. A boost to industrial production and a tame inflation report were responsible for the optimism, while a weak TIC flows report provided some turbulence. As of 1:45 eastern time, the S&P 500 is leading the way at fresh 2009 highs with a 1.31% increase to 1,066, followed by a 1.17% advance in the NASDAQ and a 0.97% gain in the Dow to 9,777.
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Published by the Federal Reserve Bank of San FranciscoIt was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...