from the MorningStar : -
Stocks were mixed this morning as the market mulled over several data points. New home sales dropped 11.3% in November, a steeper decline than economists initially expected. Uncertainty over the extension of the first time homebuyers credit and the affordability of existing homes likely led to the decline. Personal income and expenditures both posted the biggest gains in six months in November, rising 0.4% and 0.5% respectively. These increases were slightly below expectations, but still indicate that the economy is slowly recovering. The Reuters/University of Michigan consumer sentiment index rose to 72.5 in December, up from 67.4 in November. This is an improvement, but like the days other economic releases it was below expectations.
Wednesday, December 23, 2009
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