”More jobless than expected.
Decline in claims for unemployment benefits comes in under expectations.”

Slight Boost Reported for New Home Sales.

Reports Suggest Broader Losses From Mortgages.
Every time economists and Wall Street executives think they have acknowledged the full extent of the losses from the meltdown in real estate mortgages, more bad news turns up.

Home sales: Bad and worse than they seem.
Census Bureau says the pace of new home sales was weaker in September and revises August's numbers to an 11-year low.

Another article on the subject.

Sales of new US homes in September fell 23% compared with the same month last year, just the latest indication of the current downturn in the housing market.

Durable-goods orders unexpectedly fall.
Data raise new worries that effects of housing slump my be spreading

Global markets down sharply amid U.S. fears.
Dollar falls to record low against euro as worries over bank credit spread.

If I were a foreigner who was helping finance the US debt, I'd be seeing my investment evaporate with every drop in the dollar.

And still the stock market holds up pretty well.

NEW YORK - Wall Street closed slightly lower in erratic trading Thursday as investors, uneasy about the credit markets and record-high oil prices, took little solace from reports on new home sales and durable goods orders.

A puzzlement.

Arf