Economic data out this morning paints a mixed picture and markets are hesitating after two days of solid upward movement. Jobless claims were at a low not seen since 2007 and while it seems a great data point, thoughts of reduced economic stimulus as the end game for that great number is giving investors pause. On the down side, housing starts fell off dramatically, so it is certainly a recovery with pockets of resistance. Earning reports continue to be upbeat for the most part and that is stabilizing market indexes. Gold has fallen off by nearly 1 percent and oil is down as well on excess supply concerns. The dollar is stronger against most other currencies. It seems the day will be one of consolidation and perhaps some profit taking after a good run up.
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