The pause that refreshes

Markets paused to digest yesterday's enormous gains. Dow is up 13, advancers ahead of decliners by 40% & NAZ is essentially even. The gov relaxed capital requirements at Fannie Mae (FNM), up 2.60, & Freddie Mac (FRE), up 3.07, to inject an additional $200B of financing for home loans. This is seen as an important step in helping correct the mortgage mess. Oil pulled back to 105 & the Treasury bond yield slipped to 3.44%. VISA (V) went public today raising a record $18B, rising from an initial price of 44 to 59. Adobe (ADBE) beat estimates sending the stock up 4.02. While the news was good, their forecast going forward was a little cautious as they are keeping an eye on the US economy.