Following yesterday's big 1.23% rally that made up for nearly all of last week's losses, the Dow Jones Industrial Average
|Dow Jones Industrial Average||-43.90 [-0.33%]||13,197.73|
At 9:00 ET this morning came the report from the Case-Shiller home-price index that U.S. home prices fell 0.8% in January, versus expectations of a 0.2% rise. Overall, prices are down 3.8% year over year, slightly below analysts' expectations of a 3.7% fall. With such a slight gap between expectations and actual numbers, investors were unfazed.
At 10:00, half an hour after the market opened, the Conference Board announced that its consumer-confidence index, which gauges consumers' views of the economy, fell from 71.6 last month to 70.2 in March. Analysts had expected a level of 71.5. A level above 90 indicates strong growth, while a reading near 70 indicates weak but steady growth.
Since passing the Federal Reserve's stress test last Tuesday, Bank of America's
Our analysts are not so dour on Bank of America. Fool analyst Anand Chokkavelu believes Bank of America could hit $20 and explains how he sees it happening. Fool analyst John Maxfield also believes now is the time to buy Bank of America.
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Dan Dzombak holds no position in any company mentioned. The Motley Fool owns shares of Bank of America. Motley Fool newsletter services have recommended buying shares of Goldman Sachs and Pfizer. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.