Trader Talk
- HMOs Up Despite Looming House Vote
- What The Street Thinks of The Jobless Report
- Friday It's All About Jobs, Jobs, Jobs
- October Retail Sales—The Good, Bad and Ugly?
- When Good News = Good News
- Retail And Jobs Lift Mood
- October Retail Sales—Early Buzz is Strong
- Traders Digest Election Results
- Whitney's Vision For The New Normal
- Railroads And Buffett
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Reporter
Bob Pisani is off, this post was written by CNBC producer Danielle Kennedy
Markets are selling off in midmorning trading after being hit with disappointing economic data.
The S&P/Case Shiller index indicated U.S. home prices continue to tumble in April, but are declining at a smaller pace for the third month in a row. Out of 20 major metro areas, 17 are posting drops of more than 10% from a year ago. Retreating consumer confidence is also weighing on the markets, sending all sectors into the red. The Conference Board reporting its index of confidence fell to 49.3 in June, versus a revised 54.8 in May. Economists were expecting a reading of 56.
Traders are keeping an eye out for window dressing as the quarter comes to a close. However, trading volume has been extremely light Monday and today, so far. This has led some traders to believe that if there was any action caused by fund managers dumping or buying up stocks in an attempt to “dress up” their portfolios, it was likely completed last week.
S&P Sectors leading into the final day of the second quarter:
- Financials Up 36%
- Information Tech Up 20%
- Industrials Up 19%
- Consumer Discretionary Up 18%
- Materials Up 17%
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Questions? Comments?
- HMOs Up Despite Looming House Vote
- What The Street Thinks of The Jobless Report
- Friday It's All About Jobs, Jobs, Jobs
- October Retail Sales—The Good, Bad and Ugly?
- When Good News = Good News
- Retail And Jobs Lift Mood
- October Retail Sales—Early Buzz is Strong
- Traders Digest Election Results
- Whitney's Vision For The New Normal
- Railroads And Buffett
Data is a real-time snapshot *Data is delayed at least 15 minutes