(As of 7:25 am PST)
Markets continue their slow
drift up while Apple recovers to trade flat this morning. In economic news, new home sales for December
came in lower than expected with sales of single-family homes falling
7.3%. However, November sales figures
were revised up significantly, and the 8.8% year over year gain points to
continued improvement in the housing sector.
Earnings continue to come in mostly positive, with strong results from
Proctor & Gamble and Halliburton this morning. In international news, European banks began
repaying loans made by the European Central Bank back in 2011 and 2012. Around 137.2 billion euros are set to be
repaid by nearly 300 banks at the end of the month, a much larger-than expected
figure. European markets were optimistic
about the report, indicating that conditions in the funding conditions of
European banks are improving. Oil is
higher and gold down, while interest rates are drifting up. Volatility is maintaining at historic
lows. It looks as if a positive day is
in the making, as Apple’s tumble yesterday seems to have paused for the moment
and economic reports are creating a positive undercurrent in this market.
