Disappointing economic data today on Housing and Consumer Confidence.
This morning the Case-Shiller report came out on housing this morning and it was not good news. The 20-City Index for October came in at -0.8%. Expectations were of +0.1%. September data came in at +0.59%, but was revised today to +0.44%. Also today Consumer Confidence for December data was reported. Expectations were for 56.1 for the month but the number came in at a disappointing 52.5. The month of November came in at 54.3 so this was a big drop. Below is a chart from Tradingeconomics.com on Consumer Confidence over the past 2 years.