Friday, May 23, 2008

Opening Bell 23.5.08

Broad-based selling pressure has suddenly intensified as every economic sector has pushed lower. Oil prices have accelerated and are now trading more than 2.1% higher at roughly $133.60 per barrel.

April existing home sales totaled 4.89 million units, which is down 1.0% from the 4.94 million units sold during March. Economists were expecting April sales to total 4.85 million units, representing a 1.6% decline.

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