Stocks Set To Open Sharply Lower Following IBM, Texas Instruments, Goldman, And Housing

Well, the good news is that we got two pieces of bad news: the new home sales number, and the mediocre Goldman earnings, and the market is basically where it was at 7:30, with the major indices indicated to head down somewhere around 1%.

Not bad, really. Of course, we’re still more than erasing yesterday’s gains, but again, it could be worse.

The dollar is the big winner today, and the Euro, which earlier this morning had broken $1.30, is now below $1.29.

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