Stocks Decline, More Gloomy Housing Data
Stocks are pulling back on Tuesday, after the Dow hit a record high
yesterday. The National Association of Realtors reported that pending home sales
fell to the lowest level since they began tracking purchases in 2001.
Despite the negative housing data, which sent treasuries higher, a number of
homebuilding stocks are rallying.
Baidu.com
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BIDU |
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PowerRating), the Chinese internet search site, is up
sharply. The stock is up nearly 7%, hitting its highest level since August 2005.
The U.S. dollar continues to edge higher (read
more), putting pressure on commodities.
Crude oil is falling and gold is posting its steepest decline since August.
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