A slew of reports released Wednesday morning proved unsympathetic to hopeful bulls, reversing better than expected trend. First out of the gates was the MBA mortgage purchase applications index, clocking in at 265.7 for the May 8 ended week, showing statistically unchanged levels form the previous week's index of 264.3. An 11.2% drop in refinance
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The weekend gave investors and traders a chance to step back from the trees and look at the forest. The results of the Stress Test released on Friday came with such anticipation that many overlooked the parameters of the test itself. Analysts had expected TARP funded banks to be evaluated based on their tangible common
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Friday marked the announcement of a much anticipated employment report, cheered by investors who took comfort in the decline of job losses from 663k additional unemployed in March to 539k in April. The eagerly awaited stress test results were reported Thursday evening and set the stage for confidence to build into trading on Friday. The
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