Daily Financial News - Mortgage | Real Estate | Stock Market

Stocks Hit New 2009 Highs on Earnings, Oil Rally, Dollar Weakness - US equities opened at fresh one-year highs on Tuesday morning. Sentiment was higher owing to Apple’s post-closing bell announcement that it had sold 7.4 million iPhones and more than 3 million computers. November contracts for light, sweet crude are coming close to the psychological barrier of $80 per barrel this morning. Prices have advanced for eight straight days as the US dollar continues to struggle near one-year lows. The euro approached $1.50 versus the greenback overnight before retreating.

Single Family Housing Starts Increase in September. Building Permits Decline - New housing starts rose less than expected to 590,000 annualized units, economists were expecting a rise of 610,000 units after a read of 598,000 in August (which was revised lower to 587,000 annual units). The rise in new housing starts was a factor of a 3.9% increase in single family construction starts while multifamily starts fell by 15.2%. Building permits fell by 1.2% to 573,000 annual units led by a 3.0% decline in single-family permits while multi-family permits rose by 6.0% to 123,000 annualized units.

 
Bonds Hit the lowest in a week - Bond 10-year yields down to the lowest in a week, after a pair of government reports showed wholesale prices fell at twice the rate predicted by economists and the home-building market remained sluggish. Hopefully rates should stay flat in the short term.