Financial shares see US equities end higher.
Economic Times (New Delhi, India), June, 2007
Jun. 21--MUMBAI, India -- US stocks ended slightly higher Tuesday as rising bond prices boosted equities, while at the same time housing data disappointed. Financial shares gained on speculation that lower borrowing costs may increase demand for loans.
The yield on the US benchmark 10-year treasury note declined to 5.08 percent, its lowest in more than a week. This eased concerns that higher borrowing costs will reduce loan demand and exacerbate the housing slump. But gains were limited after a government report said housing starts fell in May for the first time in four months.
Starts of new US homes fell by 2.1 percent to a seasonally adjusted annual pace of 1.47 million in May, as building permits for new construction rose 3 percent to 1.50 million...
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