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Daily Financial News - Mortgage | Real Eastate | Stock Market

Written By: Listing Office

Wall Street Breaks Win Streak - CNNMoney.com -- Bank shares led a late-session selloff Tuesday, breaking Wall Street's four-session win streak, as investors mulled mixed reports on inflation and manufacturing and opted to step back.


The first day of the Federal Reserve's two-day policy meeting and a stronger dollar were also in focus. The Dow Jones industrial average  fell 49 points, or 0.5%. The S&P 500 index lost 6 points, or 0.6%. The Nasdaq composite slipped 11 points, or 0.5%.


Treasury prices fell, raising the yield on the 10-year note to 3.6% from 3.55% late Monday. Treasury prices and yields move in opposite directions.


Home Builder Confidence Still Unable to Gain Momentum - Builders continue to be skeptical about the near term prospects of the real estate market according to details from the December National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released on Tuesday.


The overall Index which shows builders perception of the market was 16, one point lower than in November and the lowest point since June. Any score over 50 indicates that more builders view market as good rather than poor, a condition that hasn't existed in several years.


Builders had a brighter outlook in the Northeast region where the HMI gained three points to score 23. The West was up one point to 19. Builders in the Midwest took the dimmest view of their prospects - the index declined two points to 12. The South was unchanged at 17.

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