Filed under: Fundamental
U.S Market Update
Posted by Trade The News in May 16th 2008
- Markets fell from the open this morning on new highs in the price of oil and darkening consumer confidence. Generic crude oil futures rose more than $3 in morning trading; Goldman Sachs raised its price forecast for oil in the second half of 2008 to $141/bbl from $107/bbl. Homebuilders showed strength at the open on April housing starts, which climbed more than 8% m/m, but were still seen at a 17-year low. Homebuilders TOL, KBH and PHM opened higher but were all seen losing ground in
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