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Pre-Market Primer: Housing Data Blows Past Expectations Again
MINYANVILLE ORIGINAL Stock futures are mixed after yesterday's rally as more positive housing market data was released. Housing starts expanded to a seasonally adjusted annual rate of 0.894 million homes in October beating economists' expectations of 0.836 million. Builders were on pace to break ground on 0.863 million houses in September. Yesterday it was reported that existing homes sold at an annualized pace of 4.79 million in October also beating forecasts. Last month's permits fell to 0.866 million from 0.890 million just above expectations. Hewlett-Packard (NYSE:HPQ) shares plummeted by nearly 11% this morning after reporting earnings. Though earnings per ...
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