In other good news for the week, the pending home sales index increased to a level of 88.8 up from 81.9 the previous month. In other positive housing news the Case-Shiller data showed home prices increased by 0.8% which was a tremendous increase from the -0.6% the prior month. Finally, jobless claims fell by 1000 from the previous week to 428,000 but were still above the expected consensus of 420,000 claims. This week also saw big news in the technology sector as Facebook announced it would use their acquisition of Skype to allow for video calling through Facebook.