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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Stocks up slightly at opening following home-price news

Stocks are up modestly at opening following some semi-encouraging news about home prices released this morning.

In the first 20 minutes of trading, the Dow is up one-tenth of 1 percent.

The broader S&P 500 is up less than one-tenth of 1 percent and the tech-heavy Nasdaq is up two-tenths of 1 percent.

According to the Case-Shiller index, January home prices recorded their smallest annual dip in three years. The index fell 0.7 percent compared with January 2009. That's the good news. The bad news is forecasters are expecting a double-dip in home prices later this year, after a winter drop in home sales and as government incentives expire.

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By Frank Ahrens  |  March 30, 2010; 9:41 AM ET
Categories:  The Ticker  | Tags: Case-Shiller, Dow Jones, home prices, nasdaq, s&p 500  
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Next: Consumer confidence rebounds in March, conflicts with last week's data

Comments

Do you really think "home-price news" has anything to do with stcok prices?

Get real.


Posted by: OldHippie | March 30, 2010 10:35 AM | Report abuse

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