The worst June in new housing sales ever recorded, and the Dow closes up 100 points because May's downward revision was
so hideous that June's pathetic numbers were "
a huge jump in new home sales".
The Dow Jones industrial average has had its third straight triple-digit advance after investors got some unexpected good news about the economy.
The Commerce Department reported a better-than-expected jump in new home sales for June. Sales rebounded from a record low in May to an annual rate of 330,000 units, more than economists expected.
The melt-up continues, and when this one blows up in our faces, it's going to be a lethal shock to our economy.
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