Retail boosts up Wall Street!

The unexpected retail sales data has given a welcome boost to Wall Street which has managed to rally quite well until now. If the momentum continues, then this may well have a cascading effect on all the other markets, all over the world. But such boosts are only short lived and if this market is to take on this momentum then it may need more good news than the ones of the other kind!

Stocks go flat on the new homes sales data!

With the wall street lurching from one bad report to another,this is certainly turning out to be one bad year for investment banking. With more and more companies coming out with their damage reports regarding their exposure to the Mortgage crisis, it is no wonder that the markets have all gone flat on the commerce departments report that the new homes sales data has fallen by more than 9%.
With the recent news that the comsumer confidence shown as being up, the hard core data belies that one totally, if the consumer confidence is indeed up and totally upbeat about the state of the economy, then shouldn't the number of new homes being bought go up?

Is it raining Houses in the United states yet?

The Housing market has officially hit rock bottom and it seems that it is still going down. I guess that there is rock bottom and a whole new low beneath all that. With the recent subprime massacre, the credits have all been drying up. That is old news but taken together with the Recent home sales it does paint a very depressing picture. Of course there are many who say that the only way to go is up from now on but it seems that the Housing index has not heard that and is determined to set all sorts of record for all the wrong reasons.
Sales of existing home fell 8% while the number of unsold houses seem to be going up. As a result of the recent credit crunch, everyone is trying to make a quick buck while they still can. So as a result the housing prices are still high but that is all bound to change and change it will. Faced with this dismal real estate news, the prices are going to take a dive but the real question is whether it will entice the people to spend. Maybe if the Feds start cutting rates a lot, it may help. But any economist worth his salt will tell you that this is one ride we all have to take whether we like it or not. Maybe the ride will take us up but then again, it may take us all the way to the 'nether' regions. Either way I have bought the butter popcorm for this ride!
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