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TwitterWe saw some profit taking yesterday in the aftermath of the strong run the markets posted on Monday, but we got back on track today with some more positive gains for the major indexes.
The DOW closed the day up 1.2%, while the NASDAQ put up a gain of 0.8% for the session.
Helping the market out today was news that new home sales in February jumped by 4.7%. While the current sales levels are running at close to record lows, it was encouraging for the market to see buyers start to come back into the market.
The day was erratic as investors continue to try to figure out which way the economy is headed. The past two week rally has brought some hope and confidence back into the market, but there are still many obstacles, and news today that the government was finding demand to be weak for some of its debt, raising questions about how easily it is going to be for Washington to raise the money it needs for all the recent spending announcements.
For now the market remains cautious and unsure of what is about to happen next.
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i think the economic is difficult to recover