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It was another confounding day of trading on Wall Street as the market rallied in the face of bad news-- a bunch of bad news... For starters, the ECB maintained its obstinate stance of fighting inflation and elected, once again, not to lower interest rates... Shortly after that news hit the wires, it was reported that durable orders for the month of September plunged 8.5%, which was well below the consensus estimate of a 1.0% decline...  In the midst of those disappointing developments, there were a number of negative research calls and a slew of lackluster earnings results... At 10 ET, the market learned that existing home sales dropped 11.7% in Sept. to 4.89 mln-- the weakest pace since... 
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