Stocks Completely Erase Losses


Photo: Google Finance

Stocks are erasing losses as the U.S. markets approach their final hour of trading.News flow in the U.S. has been light, but it has generally been positive.

Homebuilder Lennar announced Q3 earnings that blew past Wall Street’s expectations.  New orders jumped 44%.

“The housing market has stabilised and the recovery is well underway,” said CEO Stuart Miller.

The Dallas Fed manufacturing index slipped to -0.9 from -1.6 a month ago.  However, this wasn’t as bad as teh -2.7 economists were expecting.

Across the pond, headlines continue to remind us that the euro debt crisis remains unresolved.

According to a new report from Der Spiegel, Greece’s budget deficit may amount to around €20 billion ($26 billion), which is double previous estimates.

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