Existing home sales for February rose 5.1% month-over-month to 4.72 million units on an annual rate, well above the expectation of a fall of 0.9% to a rate of 4.45 million units, after falling 5.3% in January. Year-over-year sales declined 4.6%.
The Treasury plans to unthaw bank balance sheets by deploying a partnership with private capital that has purchasing power of up to $1 trillion. Details from Bloomberg...
The Dow Jones Industrial Average soared 497 points (6.8%) to close at 7,776, the S&P 500 Index gained 54 points (7.1%) to 823, and the Nasdaq Composite rose 99 points (6.8%) to 1,556. Crude oil rose $1.73 to $53.80 per barrel, and gold fell $15.11 to $937.10 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
