(As of 7:25 am PST)
US markets are recovering from
yesterday’s pummeling which saw stocks decline 1.5% on the day. Strong US data, particularly in the housing
sector, is pulling some investors back in.
Home prices rose in December to cap off the best calendar year since
2005. New home prices jumped 15.6% in January
recording the highest pace of activity since 2008. Consumer confidence also surprised to the
upside after falling in January.
Political turmoil in Italy continues to frustrate investors around the
globe with inconclusive election results ushering in a fragmented government
and renewed risks to the European debt crisis.
European markets were beaten down for a second straight day and Asian
markets sold off following Wall Street’s slide yesterday. As Ben Bernanke takes
the stand before congress today, investors will likely remain cautious as
uncertainty around sequestration and now Europe prevails.
No comments:
Post a Comment