It was a mixed open on Wall Street today with the markets heading into negative territory following the release of the latest Fed minutes.
The Commerce Department is reporting a sharp drop in housing starts, which fell 8.5 percent to a seasonally adjusted annual rate of 890,000 last month.
Meanwhile, applications for U.S home mortgages fell 1.7 percent last week, according to the Mortgage Bankers Association. This marks the second week of declines.
On the earnings front, Toll Brothers reported quarterly results which fell short of expectations, due to a decline in home prices. Shares of the nation's largest luxury homebuilder are trading lower today.
In M&A news, Office Depot (ODP) and Office Max (OMX) confirmed a merger today which had been rumored for some time. The combined company would have reportedly have had a revenue of $18 billion in 2012.
Tomorrow, we'll take a look at the numbers for weekly jobless claims as well as earnings from Wal-Mart (WMT).
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.