• Existing Home Sales in January fell 5.3%
• Inventories fell in January 2.7% and a 9.6 month supply.
• 1st time Jobless Claim filings rose by 22,000 and has risen 6 out of 8 weeks in 2010.
• Durable Goods soared in January up 3% which was the biggest gain since July. A durable good is a product that last at least 3 years which include airplanes, cars, electronics, appliances, business equiptment.
• 30 Year Fixed Rates increased to 5.3% from 4.94% a week ago.
• 15 Year Fixed Rates increased to 4.35% from 4.33% a week ago.

Greg Afarian’s Market & News Update Week of 2-8

This week we saw the following topics in the market / news

• Greece’s potential Bail Out from the E.U.
• Retail Sales modest gain of .5%
• Oil prices at $73
• Gold at $1092 an ounce

30 YR Fixed Rate Ave. 4.94%
15 YR Fixed Rate Ave. 4.33%

Dow saw some volatility but, was pretty much flat this week.

Iran up to their old self as their thug President tries to send the U.S. a message regarding their Nuclear enrichment plans.

This week we saw a new Unemployment Report down 9.7% from 10.0%
Dow struggles to stay above 10,000 down over 300 points.  Bail Out Companies in the News, earning and BIG Bonuses from AIG, JP Morgan Chase walking away with Millions.  My take on stocks, real estate and the bond market.