Feb 20, 2014

Morning Market Report

The Dow Jones still unstable, while local markets rally.

The market is up 11 points. The Dow Jones was down 90 points at 16,041 — The Dow rose early in the session and was up as much as 100 points at one stage in a 200 point range.

Economic data disappointed — Disappointing housing starts and building permits put pressure on housing sector stocks and dragged the market lower. The FOMC minutes were also released and showed the economy continued to expand at a moderate pace. The minutes suggested the Committee may change its forward guidance about unemployment, with a fall to 6.5% no longer a catalyst for monetary policy change.

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