Core Producer's index came in today showing a little higher inflation than expected and a better than expected consumer sentiment report was some good news. This consumer sentiment report is put out by the University of Michigan and they survey a few hundred people to get a good idea of how they are feeling about their personal financial position and their outlook for the immediate future. When this number is GOOD...retailers expect people to spend money.
Dow retreated again today and is down from where it started the week for the first time since March 9th. Today it lost 62 points.
RETREAT...Okay: HUD retracted the agreement to allow the $8000 tax credit as a down payment assistance piece...I missed that yesterday afternoon so was WRONG in saying things are underway to allow that. For now: it is just a GREAT reason to purchase a home (the tax credit).
Have a great afternoon and weekend!
