The Market On Monday

Good morning. It is 54 degrees and clearing here in Upstate NY. We are expecting temperatures in the high 70s later today. Any moment now I am expecting to see the forsythia in bloom. Spring starts with the light colored leaves, forsythia and dogwoods are some of the first. I hope everyone is making the physical transition from winter to spring with ease this year. The body can moan at this time.

At 8:30 a.m. futures are slightly down, the dollar is mostly up against major world currencies, and the price of oil is down. The market is poised to shed points at the opening bell.

Investors have gotten reasonable news on employment and banking in recent weeks. This week will be more about the lagging housing market. All kinds of numbers and data will come through this week on housing.

We were happy to see that an equivalent house to that one we live in, sold at a decent price last week. This was right around the corner. It all depends on where you live, some markets are exceptionally poor and others are stable although I do think that generally even in the stable markets houses are selling at prices lower than desired.

CNN: Stocks: Choppy trading ahead

Housing will be in focus this week, with reports due on new home sales, housing starts and existing home sales.


In January, home prices fell to their lowest point in more than a decade, the National Association of Realtors said last month.