In breaking news, the Fed has started its MBS buying.  Details of how much they are buying will be released weekly.  Currently mbs are up 9 ticks on the day but off the highs of up 16 ticks. 

Construction spending came in at -.6% vs expectations of -1.2%.  Dow is currently down 62 points, oil has moved higher by a $1.00 and gold is trading down $26.50.