Thursday, May 24, 2007
U.S. stocks lose steam after post-housing rally
DJIA
13,505
-20.32
S&P
1,514
-7.68
NASDAQ
2,550
-26.19
10Yr
4.87%
+0.014
U.S. stocks lose steam after post-housing rally
NEW YORK
U.S. stocks lost steam on Thursday, as investors consolidated gains from
an early rally sparked by an unexpected surge in new home sales, signs
of a pick-up in business spending.
Economic Report: New-home sales surge 16% in April as prices fall
WASHINGTON
Sales of new U.S. homes unexpectedly surged in April, rising by 16% to a
seasonally adjusted annual rate of 981,000, the Commerce Department said
Thursday.
Economic Report: Durable-goods orders rise healthy 0.6%
WASHINGTON
New orders for U.S.-made durable goods increased 0.6% in April, boosted
by strong demand for metals and capital equipment, the Commerce
Department reported Thursday.
