Market this Thur 10/25

ron · #1 (**permalink**) 10-25-2007, 11:15 AM

September new home sales came in at an annualized rate of 770k, which is up from August's revised reading of 735k. This is less than the consensus estimate that expected an annualized rate of 775k.

ron · #2 (**permalink**) 10-25-2007, 11:16 AM

Just reported, durable orders for September dropped 1.7%. Initial jobless claims for the week ended 10/20 dropped to 331k. Durable orders were expected to rise by 1.5%. Initial claims where expected to come in at 320k.

ron · #3 (**permalink**) 10-25-2007, 11:18 AM

Better than expected results and guidance from the likes of Motorola (MOT), Aetna (AET) and EMC (EMC) has helped offset disappointing results from Symantec (SYMC) and Dow Chemicals (Dow).....Dow lifting to 51 Points green, Naz +12.40 rtq.

ron · #4 (**permalink**) 10-25-2007, 11:35 AM

Light, sweet crude for December delivery rose $1.62 to $88.72 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. The contract jumped $1.83 to $87.10 a barrel in the Nymex floor session after the fuel report.

ron · #5 (**permalink**) 10-25-2007, 12:21 PM

here we go again with mrkt slipping off from its housing data induced highs. stock market earlier enjoyed a healthy bounce following the release of the September new home sales report..In other news, Bank of America (BAC 47.49 even) stated that it is going to eliminate 3,000 positions in a restructuring . The cuts will affect less than 2% of the firm's 198,000 employees.....Dow currently in the red 6 Points, Naz -8.32 rtq.