Department of Labor reported that housing starts plummeted 10.6% in October to a seasonally adjusted rate of 529,000, it was the biggest decline since January, economists had expected 590,000 starts last month, Year over year, starts are down 30.7%. New starts for single-family homes fell 6.8% last month to an annual rate of 476,000 units, the lowest since May. New building permits fell 4 percent to 552,000 units in October, analysts' predicted 580,000 units. Labor Department reported consumer prices rose 0.3% in October, a little higher than the 0.2% economists forecasted. Stocks fell today after economic data was released, the Dow Jones Industrial average fell 13 points, the Nasdaq Composite Index fell 10 points and the Standard & poor’s 500 Index fell 0.74 point. Bond prices also fell, the yield on the benchmark 10-year Treasury note rose to 3.36 percent from 3.32 Tuesday. Commodities like crude oil and gold rose as the dollar fell, gold reached yet another high of $1,149.60 this morning.
Free Daily Stock Picks activity and results for November 18, 2009:
VVUS - position entry at 9.74PM, Stop hit for a loss of 0.50 points
DRYS - position entry at 7.03PM, 1st Target Level hit for a gain of 0.25 points
CRM - position entry at 63.62, 1st Target Level hit for a gain of 0.95 points
CNQR - position entry at 37.38PM, 2nd Target Level hit for a gain of 1.12 points
ADSK - position entry at 25.00, 3rd Target Level hit for a gain of 1.00 point
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November 18, 2009
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