Brent Nyitray
Fairlington Blade
Let the mutherfuker burn!
jnc4p
Kevin S. Willis
Michigoose
lmsinca
markinaustin
Arcanaut
novahockey
quarterback
ScottC
yellojktVital Statistics:
| Last | Change | Percent | |
| S&P Futures | 1226.5 | 1.9 | 0.16% |
| Eurostoxx Index | 2361.9 | 17.890 | 0.76% |
| Oil (WTI) | 91.94 | -1.230 | -1.32% |
| US Dollar Index (DXY) | 76.223 | 0.017 | 0.02% |
| 10 Year Govt Bond Yield | 2.15% | 0.04% |
Markets are selling off on reports talks are deadlocked in Europe over the haircuts bondholders will have to take. Stocks initially rose on reports that Germany’s lower house approved plans to boost the European bailout fund.
In earnings, Amazon reported disappointing results and is down roughly 10%. Also reporting today: Ford, Nabors, Exelon, Hess, Wellpoint, FMC, Boeing, Sprint, Corning. We are in the heart of earnings season. So far, on average, corporate profits are holding up and CEOs are in general constructive on the near future.
In economic data, durable goods orders were better than expected, with a 1.7% increase ex transportation. New Home Sales came in at 313k, a slight bump from August’s reading of 296k, but still in depressed territory.
Chart: New Home Sales:
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All Things in Moderation 
Re: new home starts. Something that I've been thinking about but haven't researched or looked into at all. To what extent do these new home projects conflict with environmental goals? seems like "smart growth" is the plan in my area, but that doesn't mean the exburbs aren't continuing to grow by converting more rural areas into residential areas with the associated infrastructure. or, isn't there a positive to less construction. reuse and recycle, right?
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Our experience here in CA is that new homes don't compete very well when there is a glut of existing homes on the market. We still have a lot of foreclosed properties at pretty reduced prices. For some reason the banks are having trouble getting approval from investor groups for short sales and end up going the auction route on foreclosures which lowers the price even more. And first time home buyers probably don't have much of the required down payment in this environment which also hurts and I have the impression they are the majority of new home buyers, but I could be mistaken on that.
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