MLR - Premarket Pulse January 29, 2013
General markets were mixed on mixed volume as the S&P 500 snapped its 8-day win streak by closing down -0.18% on the day. The Russell 2000, which has been the leading index in the New Year's rally, closed at an all-time high.
In economic news, orders for durable goods jumped 4.6% in December, well above analysts' expectations for a 1.6% increase. But pending home sales slumped 4.3% in December, well below views for a 0.3% drop. The National Association of Realtors noted that the decline was due to a drop in supply, not weakness in demand, thus was allegedly less bearish than the numbers would imply.
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