(As of 7:25 am PST)
After
a choppy day yesterday that finished on a flat note, the markets have opened
higher today in advance of minutes from the Federal Reserve and data on the U.S
housing market. Ongoing headlines related to the aftermath of the Paris
terrorist attacks have the world on alert. An overnight raid in Paris left two
dead and several injured, while two Air France airliners headed for Paris were
grounded due to security threats. Investor nerves were on edge throughout
Europe with most indexes in the red heading toward the session’s close. A busy
economic calendar provided some welcome distractions for markets at home.
Mortgage applications jumped over 6% in the latest week. October housing starts
declined 11% in October, below analysts’ estimates, while building permits (a
sign of future demand) rose 4.1%, ahead of expectations. The focal point today
will be on the release of the FOMC minutes from the October meeting which will
more than likely confirm that an increase is imminent when the committee
convenes again in December. Oil is trending upward in early trading and continues
to be a market driver while gold is down.
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