(As of 7:25 am PST)
US stocks are marching higher for the third straight day
with markets on pace for weekly gains.
The only economic report due out today was a positive one and is
propelling markets higher. Sales of new
single-family homes rose 6.4% in April to an annual rate of 433,000, ahead of
expectations, but below the year ago rate of 452,000. Housing has slowed this past year due to
rising prices and low inventory.
International markets are finishing the week on a positive note with a
long holiday weekend ahead for the US and UK.
Gold is down slightly and oil up while interest rates are slightly
lower. With the S&P500 trading near
record levels and a quiet news flow heading into the weekend, many analysts are
struggling to forecast this market pushing higher.
***The US stock market will be closed on Monday due to
the observance of Memorial Day holiday.
Thank you to all the men and women who have served and do serve our
great country. We honor you this weekend.***
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