Closing Bell: Housing and Prosperity Fade (FDX, F, ATVI, MSFT, RIMM, AAPL)

Filed under: After the Bell, Microsoft (MSFT), Apple Inc (AAPL), Hewlett-Packard (HPQ), Ford Motor (F), FedEx Corp (FDX), Research in Motion (RIMM), Oracle Corp (ORCL), Activision Inc (ATVI), S and P 500, DJIA, NASDAQ

Three pieces of information stood out today. The first is that one in seven people lived in poverty last year according the US Census. That is nearly 44 million people. The Census describes these people as members of four person families that make less than $22,000 a year.



Two other pieces of data that showed the economic dreams of many American is eroding were RealtyTrac reported foreclosures hit an all time high since the housing crisis began. In July the figure rose to 95,465. Also in the housing sector, Fannie Mae research reported that while a majority of Americans (67%) continue to believe that buying a home is a safe investment, this fell 16 points since 2003. The market may have gotten the impression from these pieces of news that the recession is not over.



Today's Closing Bell numbers:



Dow Jones 10,594.83 +22.10 (0.21%)

S&P 500 1,124.66 -0.41 (-0.04%)

Nasdaq 2,303.25 +1.93 (0.08%)

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Closing Bell: Housing and Prosperity Fade (FDX, F, ATVI, MSFT, RIMM, AAPL) originally appeared on BloggingStocks on Thu, 16 Sep 2010 16:00:00 EST. Please see our terms for use of feeds.

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