Continued soft US data keeps pressure on equities

Discussion in 'Data Sets and Feeds' started by TradeTheNews, Mar 27, 2007.

  1. TradeTheNews

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    US Mid-Morning Recap
    by TradeTheNews Staff

    - Indices are giving back some ground after March Consumer Confidence and Richmond Fed data were reported below expectations, while the Fed’s Moskow reiterated it is too early to say if inflation concerns have eased. LEN –2.5% is adding to continued worries in the housing segment after another weak earnings report. TOL-2.2% KBH-2.6% BZH –3% Shares of GME have added more than 10% after reporting strong Q4 numbers and raising guidance. Treasury yields have been higher throughout the session despite the soft data. The benchmark yield curve has widened to its steepest level in more than 6-months. 10-year 4.605%; 2-year 4.568% May Crude futures are down close to $0.50 at $62.47 in what has been a tight trading range thus far. The OSX is off close to 1% as well. The Dollar saw some selling come through after the data with the Dollar Index down marginally. The EUR/USD is holding above 1.3350 after a stronger than expected IFO business climate reading out of Germany overnight.
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