President Barack Obama outlined a $75 billion foreclosure mitigation plan aimed at stemming the surge in foreclosures. As part of the plan, the Treasury is increasing its funding commitment to Fannie Mae and Freddie Mac.
Housing starts in January fell 16.8% month-over-month to an annual rate of 466,000, below the estimate of 529,000. Building permits dropped 4.8% to an annual rate of 521,000, below of the forecast of 525,000.
The Dow Jones Industrial Average gained 3 points (0.0%) to close at 7,556, the S&P 500 Index fell 1 point (0.1%) to 788, and the Nasdaq Composite declined 3 points (0.2%) to 1,468. Crude oil fell $0.31 to $34.62 per barrel, and gold rose $14.80 to $985.05 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
