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This week's economic data is hinting at a bottom in housing and suggesting the rest of the economy isn't heading over a cliff. In an odd twist, the stock market remained unconvinced Wednesday, while the bond market bought the argument.
A jump in mortgage applications and mortgage refinancing combined with two employment reports to fuel hopes that the economy is headed for a soft landing rather than a hard one.
The bond market, which veers toward worrying about a hard landing, pulled back Wednesday on the news. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,464.40 | 1,110.63 | 2,176.05 | 32.79 |
Oil *
77.05
|
|
UP
30.69
|
UP
4.98
|
UP
6.87
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DOWN
0.38
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10 Yr
3.28%
SPDR Gold
116.62
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|
+0.29%
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+0.45%
|
+0.32%
|
-1.15%
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