Wednesday's News

As oil hit new highs today, the housing market left little doubt that it was not cooling off yet. Housing sales jumped 6.5% while demand for mortgage-backed securities remain strong. On the automotive side of things, Ford's debt was downgraded to "junk" , while oil closed at $67.32/barrel. So far the Defense Base Closure and Realignment Commission has not decided what to do with the military bases in Mississippi yet. Dow -84.71 Nasdaq -8.34 S&P -8.0