Stocks have turned negative in late morning trading as housing data disappoints. The Nasdaq is trading positive right now, but was negative earlier today. Existing home sales fell about 1% in February after seeing a more than 5% gain in January. Inventories also rose last month, causing further worries about the ongoing housing recovery.
All eyes will be on jobless claims tomorrow as a string of negative economic data points could cause the market to being its long awaited pull back.
As of 11:38am the Dow is down 33 points, the Nasdaq is up 5 points and the S&P 500 is down 1 point. [Read more...]
