Pending-home-sales index falls 3.2% in July

Date: Tue, 09 Sep 2008 12:03:05 -0400
Pending-home-sales index falls 3.2% in July

In a sign that the U.S. housing market may weaken in coming months, an
index of sales contracts on previously owned U.S. homes fell 3.2% in
July from the prior month, the National Association of Realtors reported
Tuesday.

The Ratings Game: Analysts divided on home-builder stocks after GSE
bombshell

Even though the government takeover of Fannie Mae and Freddie Mac is
seen easing mortgage rates and making homes more affordable in the short
term, there is still little consensus on Wall Street over whether
housing stocks have bottomed.

Market Snapshot: U.S. stocks shaky after pending home sales data

U.S. stocks churn as investors digest data on pending home sales and
wholesale trade, with equities failing to extend the prior session's
sharp gains tied to the federal rescue of mortgage giants Fannie Mae and
Freddie Mac.

Futures Movers: Crude falls more than 1%; no change expected in OPEC
output

Crude-oil futures trade more than 1% lower, playing off market
expectations that the OPEC oil cartel will elect to keep member nations'
production quotas unchanged.

Apple set to refresh iPod at 'Let's Rock' event

The secrecy surrounding just what Apple has up its sleeve will come to
an end Tuesday as the company hosts an event that's widely expected to
include the unveiling of revamped and cheaper iPods.