(As of 7:24 am PST)
In a quiet day for US economic
reports, the market is down on international news. The Chinese market took a tumble with leaders
attempting to rein in a high flying real estate market. Measures aimed at curbing speculation in that
market took a heavy toll with the Shanghai Index down over 3%. Commodities are very quiet, most trading near
unchanged. Mortgage interest rates
ticked lower. There are few ill effects
thus far from the imposition of the sequestration (forced budget cuts). It looks like a negative day on tap with
little positive action in view to turn things around.
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