This morning the MBA Purchase Application index fell 3% while the refinance index
rose 2%. The New Home Sales report is due at 10:00am and the EIA Petroleum
status report is due at 10:30am.
The S&P 500 is down once again today at 0.90% while the 10-year treasuries are up
2.88%. Crude oil is also up at 0.20%. And for the first time in the past couple weeks
the dollar is down at the open at 0.41%.
As for earnings this week, the European crisis hit Ford hard, diminishing 25% of the
company’s sales. Ford only earned $0.26 per share, down from $0.57 at this time
last year. The company expects to lose $1 billion over the European crisis.
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