(As of 7:17 am pacific)
US Home sales rose a brisk
6.9%, the highest level since 2008.
Europe is quiet this morning. Ben
Bernanke continues his testimony before Congress today and it is sure to be market
moving, just as it was yesterday. The
market had a very volatile day yesterday starting with a large gain, swinging
to a large loss as Bernanke was in testimony, and then swinging back to a large
gain later in the day. Oil is up
slightly, gold is down moderately and the dollar is mixed. There is positive momentum, especially in
technology as Intel and EMC both beat earnings estimates after yesterdays
close. Mortgage rates appear to have
bottomed out and are rising slightly.
Generally earnings reports are coming in better expected.
