Atlanta, GA Market Update - August 25, 2010

Housing data continues to pressure the equity markets.  The Dow fell considerably below 10,000 this morning.  New Home Sales for July fell 12.4% month-over-month.  This gives an annualized rate of 276,000 units.  That is well below the rate of 334,000 units that had been expected.  This is also near record level lows. 

Durable goods also disappointed this morning.  They only had a 0.3% increase in July.  The forecast was for about 3%. 

Later today we have an auction of $36 billion 5 year notes.  Those results will be announced at 1:00 pm EST.  There are expectaitons for some news from Washington to help the industry.  Only time will let what that might be.