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Markets Rally in Response to Pending Home Sales Data (WMT, CHK)

By: , dated April 26th, 2012
Major indices jumped today on positive data about the housing market. In particular, the Association of Realtors’ Pending Home Sale Index showed that pending home sales were up 4.1 percent in March, reaching their highest levels since April of 2010. In corporate news, Walmart (WMT) is introducing the ability to pay for online orders in cash by going into their physical locations. S&P announced they would be cutting Chesapeake Energy’s (CHK) rating down to BB from BB+.

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