The Market Story Wall Street Trades Mixed - 12/09/08 - 11:02 AM EST
Stocks in New York, which opened Tuesday with losses, were lately trading mixed as investors took in the latest monthly housing and retail sales data.
The Dow Jones Industrial Average was down 29 points at 8904, while the S&P 500 was up 4.9 points at 914. The Nasdaq was gaining 27 points at 1599.
The National Association of Realtors (NAR) reported that pending home sales dropped about 0.7% in October, from September. Consensus expectations were for a steeper, 3% drop. Existing-home sales are getting a boost from sales of foreclosed homes, which have been accounting for as much as 30% to 40% of sales in some areas of the nation, according to the report.
& w/Fed Ex cuttin projections by another 10% (ystrdy's news)....that should be a huge tell as to where the mrkts should be trading over the next few mos....period!
"Risk comes from not knowing what you're doing" Warren Buffet
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