Wall Street and exchange traded funds (ETFs) are unsteady this morning after reports about home prices, big banks and the trade deficit were released. The median price of a home fell nationwide in the first quarter of the year as bargain hunters moved into the real estate market, reports Alan Zibel for the Associated Press. Prices fell in almost nine out of 10 U.S. cities, and all but six states saw lower prices (the six are Nevada, California, Arizona, Florida, Virginia and Minnesota).
- iShares FTSE NAREIT Real Estate 50 (FTY): down 11% year-to-date
The gap between U.S. imports and exports grew for the first time in eight months in March, primarily because exports declined, report Jack Healy and Bettina Wassener for The New York Times. On the upside, economists say that the declines in the value of trade between the United States and the rest of the world seem to be plateauing.
For the first time in six months, oil has hit $60 a barrel, Reuters reports. One analyst says that oil is simply riding the coattails of the bounce in equities for now and ignoring the inventory build-up.
- United States 12 Month Oil (USL): up 10.1% year-to-date
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