Freddie predicts more housing pain

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The housing turmoil is only half over but mortgage related losses are just beginning, home financing giant Freddie Mac told investors after posting another quarterly loss. Blue chips rose 40 points to 11,656. The S&P 500 gained 4 points to 1,289. The Nasdaq jumped 28 points to 2,378. Crude oil lost 59 cents to finish at $118.58 a barrel. Conway Gittens reports from New York


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