The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Mike Johnston who wrote (80031)	6/25/2007 8:34:45 AM
From: Broken_Clock	Read Replies (1) of 306849

Uh OH. Bad news. Bernanke may not raise nterest rates. Gee I thought everything was hunky dory.... Stock Futures Headed to Flat Open Jun 25 07:59 AM US/Eastern By JOE BEL BRUNO AP Business Writer NEW YORK (AP) - Wall Street headed for a flat open Monday before a report expected to show home resales fell in May, data that would suggest that the Federal Reserve won't have to raise interest rates. Investors expect the National Association of Realtors to report existing home sales totaled 5.97 million in May, similar to April's level 5.99 million. If May's results match projections, they would reflect a drop of 0.3 percent from April, and 10.6 percent from the same month last year. The report is released at 10 a.m. EDT. On Tuesday, the Conference Board releases its June consumer confidence index and the Commerce Department's on new home sales for May. The latest batch of economic indicators comes before the Federal Reserve meets on Wednesday to discuss interest rates. Central bankers are widely expected to keep the benchmark rate stead at 5.25 percent, while Wall Street will be braced for any clues about future moves. Investors sent stocks lower Friday as concerns grew that major U.S. financial institutions will be hurt by losses from mortgage-backed securities. Bear Stearns Cos. recently announced it would help to rescue two of its hedge funds that are near collapse, and caused concern others might be next.

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