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Strategies & Market Trends : Sharck Soup
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To: Sharck who started this subject5/24/2001 10:11:06 AM
From: besttrader   of 37746
 
10:06 ET Economic Data : The housing market had been surprisingly resilient given rising unemployment; the sharp decline in April is the first hint that the consumer is finally feeling the pressure of rising layoffs and reduced job security. This consumer shift validates the Fed's concerns about the economy and should reduce inflation fears.




10:02 ET Economic Data : April New Home Sales were reported at 894 K, firmly below the consensus of 975 K. The March report was revised down to 988 K from 1.02 mln. The slide in April was the biggest drop since April 1997.
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