Trading at Noon: Home building slumps, retail sales rise
Monday, April 16, 2012 - 02:08
April 16 - The home builders' housing market index fell, suggesting the housing market is finding a bottom and U.S. retail sales were up in March.
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After seven months of -- the home builders' housing market index falling back. Down three points to 25 prospective buyers remain hesitant to pull the trigger on purchases. However has gained eleven points in September 2011. Suggesting housing market is finding -- bottom. Still the index has a long way to go to reach the fifty mark which indicates what builders view market conditions favorable -- -- The index has not been about the since April of 2006. Or financial crisis hit. US retail sales were up more than expected in March retail sales rose eight tenths of -- percent as Americans shrugged off high gas prices and bought a wide range of items. The third suggests economic growth in the first quarter was probably not as weak as many had feared. The news could -- analysts raised their first quarter growth forecast. NASDAQ turned negative after Mattel reported a decline in and here's a Google dropped ahead. High stakes legal battle with oracle. Dragging the S&P lower at this hour check out in attack it's not just about 1%. US crude eastward hundreds -- bucks a barrel a week on weak data from China and the US. And gold is down today and worries about how we manage on optional -- on Thursday. And Spain also figuring into the US treasury market where those concerns pushed prices up. Snapper stocks to watch let's go to Reuters correspondent Charles -- It was on therapeutics is the worst performer on the NASDAQ today it is developing a drug called -- you biologics would Baxter International. And the FDA's request additional information on that drug on the efficacy of it. And intern that's gonna be extended timeline before it does get final approval for its improved at all witches. -- increasing investor sentiment on the possibility of it -- involves -- getting this thing. -- is Google shares right now they are off more than 3% after jury selection and a high stakes dispute over Smartphone technology with oracle. Kicks off this morning also shares of Citigroup right now are up just about 2% Citigroup's quarterly profit beating Wall Street estimate this. But of -- it in I'm Jen Rogers this is writers.
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