Stocks Slide on Weak Housing Data

Stocks are trading lower to start the week, after M&A news failed to offset negative data from the housing market. Existing Homes Sales fell for the fifth consecutive month.

Gateway (GTW | Quote | Chart | News | PowerRating) agreed to be acquired by Acer, with the Taiwan based company paying approximately $710 million (full story). Also, U.S. Steel (X | Quote | Chart | News | PowerRating) agreed to acquire Stelco for about $1.1 billion (read more).

Learn how Raptor II was able to achieve 28%+ returns from 5/2006 to 8/2007.

Click Here to sign up for a free presentation hosted by Larry Connors.

TradingMarkets subscribers have access to 16 quantitative stock indicators and another 17 quantitative market bias indicators. These indicators are derived from our proprietary database that includes millions of trades, and designed to give you a short-term trading edge.

Each day, we provide free open access to one of these proprietary stock indicators. If you would like to access all 16 stock indicators, 17 market bias indicators, along with many other tools, click here for a free 7-day TradingMarkets trial.