Markets closed mixed on Wall Street: DJI -0.14% SP500 +0.02% Nasdaq +0.25% Gold -0.28%
The markets were mixed because:
- The Fed wants to conduct another round of Stress Tests on banks (XLF). Winners can pay dividends, losers must raise more capital.
- Housing starts fell off the roof (XHB, IYR). Starts fell to an 18 month low of 519,000. Is this harmful or healthy for the economy? >>
- Oil (USO) slid to a 4 week low. With concerns over tightening and slowing growth in China (FXI), it’s hard to be an oil bull today.