Stocks Mixed on Pervasive Housing Worries
The major indexes opened lower, but rallied through the day to
close mixed. After homebuilder Lennar posted record losses for last quarter,
traders sold stocks early in the morning before the indexes
managed a reversal. Poor results from the homebuilder, in addition to a weaker than
expected housing report, helped to weigh on investor sentiment
across the board.
The U.S. dollar continues to decline, hitting yet another
record low versus the euro.
Crude oil fell nearly 2%, and gold was down fractionally on
dollar weakness.
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