Market commentary

Mixed economic data this morning with relatively good news for home prices as the S & P/Case-Shiller index of property values reflected a 4.6% year over year increase. This news was overshadowed by the Conference Board’s consumer confidence index which fell to 50.4, a five month low. Stocks turned lower after the consumer confidence data, and bonds are lower as well, nervously awaiting today’s auction of $38 billion in two year notes.