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Recap: Stocks Lower After Retailers Post Sales Declines
Despite opening higher after a weekly labor report beat expectations, markets are in the red for a second consecutive day as retailers post lower results than anticipated.rnrnJust before 11:30 am, the Nasdaq was leading the decline with a 0.24% fall to 1,988, closely followed by a 0.14% downturn in the S&P 500 to 1,002. The Dow, by contrast, has rebounded from earlier falls and stands 0.01% higher at 9,282.rn
Fannie and Freddie Release Weekly Rate Summaries
After two weeks of modest increases, mortgage rates drifted down during the week ended August 6 according to results of Freddie Mac's Primary Mortgage Market Survey released on Thursday. Fannie Mae rates also decreased during the week.rnrnrn
DeMarco Tapped to Temporarily Takeover Lockhart’s Post as FHFA Director
James B. Lockhart, director of the Federal Housing Finance Agency announced on Thursday that he is leaving the agency. Mr. Lockhart has been director since May, 2006 and will be succeeded in an acting capacity by the deputy director Edward DeMarco.
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