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US MAY HOME PRICES IN 20 METRO AREAS RISE 0.5 PCT SEASONALLY ADJ (CONSENSUS 0.2 PCT) VS 0.6 PCT IN APRIL - S&P/CASE-SHILLER...

90 minutes before the opening bell sounds to begin a holiday-shortened week, equity futures are sharply upwards. The Dow looks to open 52 points higher at 10,850 and futures on the S&P 500 are up 4.50 points to 1,168.00. Commodities are also on the rise with NYMEX crude oil contracts (May) up 67 cents to $80.00 per barrel and Gold up $5.70 to $1,111.10....

U.S. home prices, as measured by the 20 city index rose by 0.3% on a month over month basis, less than the anticipated 0.8% gain. The 10-city index rose 0.4% from August. According to S&P/Case Shiller data, home prices have risen for five straight months. However, as pointed out above, in August 17 of 20 cities reported month over month appreciations whereas in September only 10 of 20 cities reported month over month improvements. More below....

Home prices across the United States are beginning the process of stabilization, according to an industry survey that found price declines moderating at a quicker pace than expected in June. The S&P Case-Shiller Home Price Index said its survey of 20 metropolitan cities found prices moving upwards for the second consecutive month. Prices in June moved up 1.4%, following a 0.5% uptick in May, with 18 of the 20 metropolitan areas seeing improvement. ...