8:39 (Dow Jones) Housing starts fell by 6.9% to an annual rate of 1.527 million units in August, much weaker than expected. This takes away one more prop from which the economy had benefitted.
8:37 (Dow Jones) After jobless claims come in down 49,000, much more than the 3,000 decline expected, benchmark Tsys lose a little ground. 10- year yield up 1 BP since data to 4.69%. And housing starts show a bigger fall than expected in August, not helping Tsys at this point.
8:34 (Dow Jones) Jobless claims fell by 49,000 to 387,000 in the week ended Sept. 15. This was the week that included the terrorist attacks on the WTC and the Pentagon and, so, this may have represent some "CNN" effect in which claimants held back from going to the unemployment offices.
8:30 (Dow Jones) It appears at the moment that Wednesday's impressive late-day rally doesn't count for much. Stocks here are going to face another big drop at the open, and Europe's not helping - major averages there are getting hit pretty hard. Estimates cut at McDonald's (MCD), FedEx (FDX) tops views easily. Loads of data to look at, and a host of Fed chiefs speaking. Yield on long bond edging higher.