Stocks were expected to open higher… But then Morgan Stanley sold their shares of the NY Times and all hell broke loose.
U.S. home construction starts fell in September to their lowest level in more than 14 years, while consumer prices rose at the sharpest rate in four months, separate reports showed on Wednesday.
Weak housing data boosted U.S. government bond prices and the U.S. dollar slipped versus euro and yen as some investors saw the data as a sign of continuing headwinds for the economy.
U.S. stocks were still expected to open higher with investors more focused on healthy corporate profit reports.
How long do you think it will be before the housing market crisis bottoms out? Has it already bottomed out and we’re still seeing a delayed effect?
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