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Mid-Day Market Recap: Stocks Stagnate As Markets Await New Guidance
Stocks were trading lower in the first hour of trading on Thursday but relative to the 6.1% gain seen in the first three days of the week, the sell-off is pretty minor. By 11 am, indexes had mostly recovered from the morning’s mixed news.rnrnAfter 90 minutes of trading, the S&P 500 is the only major index still in the red, down 0.19% to 931. The Nasdaq is roughly flat trading 0.3% up at 1863, and the Dow is down 0.7% to 8622.
1 in 84 Homes Receive Foreclosure Notice in First Half of 2009
As the unemployment rate approaches double-digits, almost two million homes received foreclosure filings in the first half of 2009, 15% more than in the same period for 2008, and 9% more than in the previous six month period, according to a new industry survey.rnrnRealtyTrac, an online marketplace for foreclosure properties, said 1.905 million homes received default notices, auction sale notices, or bank repossessions between January and June.
Continuing Jobless Claims Plummet from Record High
Initial filings for Jobless Claims came in far below expectations for the second consecutive week, but the bigger news is the enormous drop in continuing claims, which sliced half a percentage point off the insured unemployment rate.rnrnInitial filings dropped to 522k in the week ending July 11, marking the third straight improvement and the second week that claims have come in below 600k. Last week’s figure was revised up by 4k to 569k
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