Economists are predicting today’s reports will show that home prices are declining at a slower rate (yay!), and consumer confidence will be up (double yay!). Most European countries agreed to tighter budget controls. Greek debt talks were not horrible, which contributed to this morning’s lower mortgage-backed security prices. Seeing how treasury yields were at five-year record lows at close yesterday, a pull back in prices seems probable.
What’s Up on Wall Street?
It was a fairly quiet day for stocks yesterday, as investors walk on eggshells waiting to hear what comes out of Greece. The Dow Jones Industrial Average slipped 6.74 points (0.05 percent). The Nasdaq Composite fell 4.61 points (0.16 percent), and the S&P 500 was the biggest loser of the day, falling 3.32 points (0.25 percent).