Home Resales rose 7.6% as sales surged 22% from last year–(Some inflation from the expiring tax credit)
Oil prices have dropped to under $70 a barrel, with pump prices most likely to follow.
NABE: National Assoc for Business Economics, raises in 2010 forecast slightly to 3.2% “The Economy is in reasonable good shape..”
The Conference Board released its survey of consumer confidence which was 63.3, higher than street expectations.
I think you can see our point, and of course there is negative news outside of the US, which we can easily point out as well, but currently market participants are focused on the negatives, not the positives.
We are headed into a shortened week as Monday is Memorial Day, and many participants will head out early this week, which will make for lighter trading later in the week barring any major event, which is always possible.
Have a Good Day!