Advertisement
Powered by MOMENTUM MEDIA
lawyers weekly logo
Growth

Foreclosures down; Wall Street pushes to 2009 high

3 minute read
The Adviser

Conditions in the United States continue to show signs of improvement with foreclosure activity declining in May.

According to RealtyTrac – a property research house – the number of foreclosures across the country dropped by 6 per cent over the month.

While the news was encouraging, the 321,480 properties which did receive foreclosure notices was still the third highest number on record.

The news of an improvement in foreclosures coincides with a 0.5 per cent improvement in retail figures in May.

Coupled with increased bank confidence and a decrease in the number of Americans filing for unemployment benefits last week, this buoyed Wall Street yesterday to a 2009 high.

The S&P 500 closed at 944.89 – its highest close this year.

 

default

JOIN THE DISCUSSION

You need to be a member to post comments. Become a member for free today!
You have 0 free articles left this month.
Register for a free account to access unlimited free content, or become a PREMIUM MEMBER to enjoy a wide range of benefits