Bulls and Bears Call a Ceasefire
US stocks were relatively flat today, as both the Dow and the S&P 500 finished down just one point, while the NASDAQ lost 11 on the day. Over in the bond market, the yield on a 10-year Note fell to 4.63%.
Initial Claims came in slightly above expectations this week at 322,000 versus a consensus expectation of 320,000. Tomorrow, traders will be waiting to see what the New Home Sales numbers are going to be. Although the discount rate cut will not be factored into the number (positive or negative), it will interesting to see if we get a break in the bad news from the housing sector or continued downward momentum.
In the Asian markets, the Nikkei finished ahead 2.6% and the Hang Seng ended its last trading session 2.7% to the upside.
