Some positive economic data has stocks on a slight rebound today after getting pummeled in previous sessions. Housing starts inched up which is leading to guarded optimism that just maybe the long languishing housing market may start to recover.
Europe still remains the chief concern as Greece is hurtling towards new elections. Polls out of the country show the anti-bailout leftist party picking up steam while the pro-bailout parties are getting wrecked. Still a few weeks out but it looks like the Greek situation is coming to head sometime in June. And by the looks of it, the exit for Greece could be messy for the entire EU.
A current snapshot of the three major indices in the US has the Dow up 13, the Nasdaq 4 and the S&P 3. All three are well off their session highs. [Read more...]