Thursday, October 26, 2006

Quick Overview

  • The Commerce Department reported the median price for a new home sold in September was $217,100, down 9.7 % from September 2005. This is the lowest median price for a new home since September 2004 and the largest year-over-year decline since December 1970.

  • Sales of new homes rose by 5.3 percent to a seasonally adjusted annual rate 1.075 million homes This is second consecutive increase in sales following three months of declines.

  • Durable goods orders posted their biggest increase in more than six years, rising 7.8% in September.

  • First-time U.S. jobless claims rose 8,000 to 308,000 last week.

  • Yuan central parity rate set at new high of 7.8940 to dollars versus 7.9007

  • Zinc stocks on the London Metals Exchange fell 1,750 tons to 113,900 tons, the lowest level since 1991.

  • The U.S. Department of Energy said that underground supplies of natural gas were up 19 billion cubic feet at 3.461 trillion cubic feet.

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