Stocks Close Flat As Bonds Fall

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Major indexes close down fractionally across the
board.

Worries about housing data and a hike in long-term
interest rates lead to investor concern.

Crude oil futures closed down almost 2%, despite an
unexpected decline in inventories; warm weather forecasts for the Northeast
helped to bring oil prices lower.

Gold futures closed up for the day, buoyed by the
Dollar’s struggle against the Euro and a broad metals advance.

Barry James from James Advantage Funds said,
“The stock market caught a case of the flu from the bond
market today.  Economic news wasn’t particularly good, and the sale of 2
year treasuries did not go well because people are anticipating the the Fed hike
next week.  The price of oil fell too, and I think there are still concerns
about what is going to happen in the Middle East.  We are sluggish in terms
of the market, and that probably won’t pick up until we see a little clarity as
far as the Fed and the futures are concerned.”

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