Pending Home Sales

Good morning. The recent wild ride on Wall Street continued yesterday as the Dow’s swing of 181 points intraday definitely kept everyone on their toes. And while the focus in the market had been all about the earnings reports and whether or not Corporate America could deliver some top-line growth, it now appears that the focus has shifted to the charts of the dollar and the banks.

Stocks enjoyed a nice pop out of the gate yesterday on the back of more good economic news out of China, where the PMI grew at the fastest rate in eight years. The bulls then wasted little time in celebrating some good news here at home as the reports from the ISM Manufacturing Index as well as Pending Home Sales and Construction Spending all came in well above expectations. And with the better economic news came some selling in the dollar. Thus, before ...

Stocks are being driven up from Friday's losses after better-than-expected key economic reports on manufacturing and housing. At noon, the Dow is up 100 points after falling 250 on Friday.

The ISM Manufacturing report showed a manufacturing index of 55.7, ahead of economist's predictions of 53. This is the fastest rate of ...

Pending home sales for the month ...

WASHINGTON, DC -- (MARKET WIRE) -- 11/02/09 -- Pending home sales rose again, marking eight consecutive monthly gains -- the longest streak since measurement began in 2001, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in September, rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8. Lawrence Yun, NAR chief economist, said the momentum is understandable. "What we're witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month," he said. "Home values will stabilize sooner rather ...

Signed Home Sales in Excess of $320 Million Year-to-Date Strong Liquidity Position Moderating Trend in Nonperforming Assets LYNNWOOD, Wash.--(BUSINESS WIRE)-- City Bank (NASDAQ: CTBK) today announced a net loss of $35.56 million for the quarter ended September 30, 2009, or $2.26 per diluted share, compared to a reported net loss of $10.96 million, or $.69 per diluted share, for the same ...