Housing Data Leaves Major Indices Mixed (SBUX, KFT)

Major indices were mixed, but leaning towards slightly down, today. Investors were responding to new data from the National Association of Realtors indicating that US home sales fell by 0.9 percent in February, though previous estimates were revised upwards to make the overall picture seem not as bad. Starbucks (SBUX) announced that it will be getting into the energy drink business, and it will create about 150 manufacturing jobs. After spinning off its grocery store unit, Kraft (KFT) will be rebranding the remaining snacks unit as Mondelez.

Word on the Street

• Stocks were mixed for the day.
• US home sales fell in February.
• Oil prices jump on lower than expected supply.
• Bernanke and Geithner said they see the risk from Europe as having decreased.
• Starbucks (SBUX) will be adding manufacturing jobs in the US.
• Kraft (KFT) will be undergoing a rebranding.

Interesting Tidbits

• When Wall Street’s Bullish, Investors Head for the Exits
• Ben Bernanke is just doing his job, folks