The pace of U.S. existing home sales in the United States fell 1.2 percent in October to
a record low 4.97 million-unit pace, the National Association of Realtors said, amid a nationwide credit crunch and a spike in failing home loans.
The median existing home price of $207,800 was a decline of 5.1 percent from a year ago, a record drop.
Durable goods orders fall.
New orders for long-lasting U.S.-made manufactured goods dropped for a third straight month during October and companies seemed wary about making new investments, a Commerce Department report on Wednesday showed.
Orders for durable goods fell 0.4 percent last month after declining 1.4 percent in September and 5.3 percent in August. Excluding transportation items, orders were down more sharply by 0.7 percent.
And stocks soar on increased belief that Ben is warming up the helicopter.