Stocks started mixed today on an assortment of earnings reports, but they were higher at midday following favorable housing data. Investors also are awaiting the Federal Open Market Committee's interest-rate announcement at 2:15 p.m. EST.
Aided by a surge in the western states, U.S. new-home sales turned in a 17.5% gain in December to a seasonally adjusted annual rate of 329,000 compared with November's reading. The December increase was more than 5 times higher than the expected increase of 3.1% to a rate of 299,000. However, for the full year of 2010, the initial estimate of home sales is 321,000, which would make it the worst year on record dating back to 1963.
The Dow eclipsed the 12,000 mark this morning for the first time since June 2008.
( good news, and new high. looks SP500 will touch 1300. let's check what happens after that. not bad for bulls, the strong close yesterday and today's open)
Wednesday, January 26, 2011
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