A Frigid April for Housing Starts (BusinessWeek Online)

BusinessWeek Online - Looks like the "green shoots" for the U.S. housing market are taking their sweet time springing through the soil. One day after a surprising jump in the National Association of Home Builders' sentiment survey in April, Wall Street was hoping that the May 19 release of the U.S. housing starts report for April would show a modest uptick, with economists forecasting a rise to a 523,000-unit annual pace from an unrevised 510,000 in March.

US mulls consumer financial protection agency (AFP)

AFP - President Barack Obama's administration is mulling creation of a federal consumer finance agency to protect the public from predatory mortgage lenders, credit card providers and mutual fund companies, the Washington Post has reported.

NC appeals court upholds tax bill for Wal-Mart (AP)

AP - The state Court of Appeals ruled Tuesday against Wal-Mart Stores Inc. and its efforts to get a $33 million tax refund, upholding a trial judge's ruling that found a complex corporate structure was used primarily to avoid corporate income taxes.

Lawmakers seek tighter oversight of credit raters (AP)

AP - Lawmakers on Tuesday proposed tightening oversight of Wall Street's credit rating agencies as regulators move to reshape supervision of the industry widely criticized for failing to give investors adequate warning of the risks in subprime mortgage securities.

Surprise drop in housing data checks market’s rise (AP)

AP - A record low in housing construction has investors doubting the economy again.

Wall Street slides as financials fall late in session (Reuters)

Reuters - The Dow and S&P 500 slipped on Tuesday as financial shares sank and on disappointing housing data, but the Nasdaq rose as investors snapped up technology shares ahead of results from Hewlett Packard .

Treasury prices mixed after drop in housing starts (AP)

AP - Treasurys finished mixed Tuesday along with stocks after new home construction dropped to the lowest pace on record.

U.S. housing starts and permits plumb record lows (Reuters)

Reuters - U.S. housing starts and permits fell to record lows in April, weighed down by a slump in multifamily units, according to data on Tuesday that still hinted the U.S. recession may be drawing to a close.

Mixed US housing construction data hints at recovery (AFP)

AFP - US housing construction starts and permits slumped to fresh lows in April, government data showed Tuesday, but analysts saw a ray of hope in a rebound in the key single-family home sector.

Oil hits 6-month high on U.S. refinery problems (Reuters)

Reuters - Oil prices rose on Tuesday, touching a six-month high over $60 a barrel as a flurry of U.S. refinery problems stoked supply fears leading into peak summer driving season.

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