The Case-Shiller 20 City Home Price Index declines again in October by 1.3 percent. All 20 of the cities recorded monthly price declines. Economists are now expecting home prices to decline throughout next year.
The stock market futures are still trading positive by two points ahead of the opening bell at the New York Stock Exchange. This positive stock market action is likely due to the weak U.S. Dollar Index this morning. The U.S. Dollar Index is trading lower by 0.52 cents to $79.83. As we all know by now when the U.S. Dollar Index declines the major stock market indexes will inflate and trade higher.
Last night the important Shanghai Index declined declined by 1.74%. Since November 11, 2010 the Shanghai Index has declined by nearly 15.0 percent. On December 25th, 2010 the Chinese central bank raised interest rates by 25 basis points in order to cool off the high inflation that the leading Asian economy is facing.
Yesterday’s trading volume was extremely light. That type of light trading volume action is expected to continue throughout the rest of the trading week. Light trading volume markets usually make for a flat to slightly positive trading session. 
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