Daily Update: Stocks Mixed | REITs Climb | Strong Housing Data
Strong Housing Starts and Building Permits data this morning, including a new 12-year high on permits, wasn't enough to offset pressure on the major stock indexes from weaker-than-expected earnings reports from Home Depot (HD) and Kohl's (KSS). Coming off modest gains yesterday and riding a streak of six-straight weeks of gains, the S&P 500 ETF (SPY) edged lower 0.1% while the Nasdaq ETF (QQQ) was actually able to eke out a modest 0.2% gain on the day. The 10-Year Treasury Yield (IEF) continues to pull-back, ending the day lower by 2 basis points to close at 1.79% after hitting a four-month high of 1.97% in early November.
