Treasuries and mortgage-backed security prices are opening higher this morning after the EU failed to agree on terms of additional aid to Greece to help them avoid defaulting on their debt. Some of the key economic reports this week include May new home sales and the May durable goods report. The headline report for the week will be the FOMC meeting that begins on Tuesday and the resulting policy statement and press conference on Wednesday.
The New Home Sales report this morning is expected to show that United States new home sales climbed at the highest annual rate since April 2010. This report and the Pending Home Sales report tomorrow are likely to show that housing is driving U.S. expansion. In fiscal cliff news, Timothy Geithner proclaimed that he will take extraordinary measures to postpone U.S. default.
What’s Up on Wall Street?
The Dow Jones Industrial Average increased 17.44 points (0.13%) while the Nasdaq went up 1.47 points (0.05%). Also, the S&P 500 rose 1.69 points (0.12%).
Here are some of today’s rates:
Here are a few links to some of today’s financial articles. Be sure to leave a comment below if you know of any additional financial articles that are trending today.