Thursday a new bill was presented to the U.S. House Financial Services Committee. It would do away with Freddie Mac and Fannie Mae in favor of a new housing loan structure bill. Rep. Maxine Waters (D) outlined a measure challenging the more conservative approach of Rep. Jeb Hensarling (R). The proposal will create a new lender-owned cooperative that would issue government-backed loans. The new plan includes government guarantees for home loans eligible to receive federal insurance.
More from Video
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.