Re: In the news...

Stocks initially gained this morning on better-than-expected news, only to retreat a short time later, after worse-than-expected Consumer Sentiment news was reported.

Early this morning, the Commerce Department reported that Retail Sales climbed to 0.3%, which was better than the previous report of 0.1% and much better than the -0.2% that was expected. The news was particularly surprising in light of the huge snowstorms that hit the East Coast over the last month, which could have held shoppers at home.

Despite those good sales numbers, consumers aren't feeling very confident in the present and future economic conditions. According to the University of Michigan, Consumer Sentiment dropped from 73.6 in February to 72.5 in early March.

Brought to you, courtesy of The Mortgage Market Guide