Entering text into the input field will update the search result below

PENDING HOME SALES TRUMP POOR JOBLESS CLAIMS DATA

Apr. 26, 2012 8:17 PM ETSPY, IWM, QQQ, MSFT, IGV, IYR, LEN, ITB, XLY, XRT, DD, XLB, UPS, IYT, AXP, XLF, IEF, TLT, UUP, FXE, FXB, GLD, GDX, SLV, JJCTF, DBC, USO, UGA, XLE, DBA, COW, JJGTF, EFA, IEV, EEM, EWJ, EWA, EWY, EWG, EWU, EWQ, EWZ, RSX, EPI, FXI
David Fry profile picture
David Fry's Blog
9.72K Followers
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

openingimage

Jobless Claims (388K vs 375K expected & prior revised higher 389K) allowed for a beat with (ahem) revisions. Pending Home Sales (4.1% vs 1% expected & prior at -.5%) is what bulls seized on shrugging off poor employment data. Bulls see claims data as just more of the same. But people are also losing their benefits with 700K expected to be out of luck by next month.

Earnings continue to come in beating expectations which is typical frankly. With housing data stronger the charge higher was led by Homebuilders (ITB) and REITs (IYR) was still trending higher with hotels doing better. Tech (XLK) continued to build on Wednesday's gains. Consumer discretionary (XLY), retail (XRT), financials (XLF) and energy (XLE) also trended higher.

<READ MORE>

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You