The PHLX housing sector index fell 2.36 percent, with shares of D.R. Horton Inc, the No. 1 U.S. homebuilder, dropping more than 3 percent. D.R. Horton spooked investors on Thursday when it reported a 23- percent drop in third-quarter profit.
A broad bipartisan coalition supporting a massive foreclosure rescue beat back GOP efforts to gut it, defying a White House veto threat.
The Federal Reserve's leading inflation hawk told CNBC that interest rates will have to rise soon in order to keep a lid on rising prices.
The latest overall job loss numbers showed a loss of 49,000 jobs in May and a jump in unemployment rate up to 5.5%. The drop is still well below the six figure numbers seen in past recessions. Read what our panel thinks about the recession outlook.
The U.S. Senate is voting this week on legislation which could drastically change the way companies do business.