Today's data 2011-01-31

Stocks started mixed but were higher at midday following some favorable economic data along with several firms reporting strong earnings. A handful of mergers also made the news this morning, while U.S. investors did not let the current turmoil in Egypt affect much of their activity.

December consumer spending increased by 0.7%, up from November's downwardly revised 0.3% reading while exceeding economists' expectations. Additionally, consumers' income levels gained 0.4% for the second consecutive month and in line with expectations. Growth in private-sector salaries and wages saw a substantial increase by $15.5 billion, following a $5.9 billion gain in November. The saving rate also declined slightly, which indicates improved consumer comfort with the economy.

Meanwhile, the Chicago Business Barometer in January increased to 68.8, which marked the highest reading since July 1988 and economic expansion for the 16th month in a row. The reading countered expectations of a decline to 64.5, down from December's 66.8. The prices paid index, which is an indicator of inflation, jumped to 81.7, the highest level since July 2008, while the employment index increased to 64.1, compared with December's 58.4 reading. The employment reading is at its highest in more than 26 years.

(Data is good. Market rebounced based on finance sector strong. this is the fact!)

(but as yesterday we said, uptrend is already broken. let's go and see)