Monday, June 2, 2008

Stocks Pull Back In Early Trading

The market got a boost near the open on a better than expected economic report and falling oil prices, but it has since traded back into negative territory.The April durable goods report fell -0.5%, but rose +2.5% ex-Transportation. Both figures were better than expectations. Also, oil fell below $126 this morning before rebounding back near $129. So far, oil has pulled back roughly 5% from its highs.There were some good earnings reports in the specialty retail sector, which is helping lift the retail index. Homebuilders are also bouncing, but finan[...]

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[Source: The Money Blogs]

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