| Last | Change | Percent | |
| S&P Futures | 1387.4 | 1.1 | 0.08% |
| Eurostoxx Index | 2513.7 | 4.1 | 0.16% |
| Oil (WTI) | 87.83 | 1.1 | 1.24% |
| LIBOR | 0.312 | 0.001 | 0.32% |
| US Dollar Index (DXY) | 81.03 | 0.070 | 0.09% |
| 10 Year Govt Bond Yield | 1.67% | 0.00% | |
| RPX Composite Real Estate Index | 191 | -0.4 |
Markets are flattish this morning after a earning miss from Deere and Greek debt negotiation efforts hit a snag. Expect low volume today as investors pack up and head to Grandma's. Bonds are and MBS are down small.
Initial Jobless Claims came in at 410k. Like last week, this is a Sandy-affected number and should be viewed accordingly. Mortgage applications fell 2.2%. University of Michigan Consumer Confidence dropped, and the index of leading economic indicators increased .2%. Rising real estate prices are the driver of this.
Here are the highlights of the HUD report to Congress. Aside from telling us what we already know (FHA is in deep trouble), there are also changes to the mortgage insurance program. Insurance rates on FHA loans are going up, and borrowers will soon be charged mortgage insurance for the entire life of the loan, not just they typical 10-year period L.Os take note - here is a good argument to get those borrowers off the fence - start the process now and get in under with wire.
Looks like the Feds are closing in on Stevie Cohen. His healthcare PM allegedly made a quarter of a billion shorting Elan and Wyeth. SAC Capital pays the highest commissions on the Street, by far. They aren't doing it out of the kindness of their hearts. Of course his investors don't care - they know he is trading on inside information, but they are protected because they are limited partners.
Two arguments about the proper size of government and its effect on prosperity.
The negotiation between the baker's union and Hostess didn't last long. Hostess is headed for liquidation.
Have a happy Thanksgiving.
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