Markets Rally on Low Foreclosure Rates (HPQ, GS)
Major indices rallied today, increasing by almost 1.5 percent each. The biggest cause of this increase was data on foreclosures, which are at a 5-year low, the lowest they have been since before the onset of the recession. Leading the Dow up today was Hewlett-Packard (HPQ), a company that has seen a lot of turmoil over the last year. Goldman Sachs (GS) will have to pay a $22 million fine because they failed to keep its analysts from leaking insider information to select clients.
Word on the Street
- Hewlett-Packard (HPQ) lead the Dow in today's market rally.
- Foreclosures are at their lowest level since 2007.
- Imports fell by nearly 3 percent in February.
- Jobless claims jumped last week.
- Goldsman Sachs (GS) will pay a heavy fine for leaking inside information to its clients.
- A nonvoting member of the Federal Reserve Open Market Committee argues that rates should be hikes in the next two years.
Published on Apr 12, 2012By InvestorGuide Staff