Exisiting home sales

Existing home sales for April numbers came in-line with the expectations. It came to 4.7 million, up from the rate of 4.6 million for the prior month. Existing home sales therefore increased by 2.9% from the previous month which was better than expected. The consensus was 2%. Investors did not seem to love this news though. Sellers pushed the S&P down 2 points to 909.31.

Home sales and prices have been under pressure because of the rising unemployment rate.

US Dollar is on the rise. It is $80.36, up .26 cents.