(As of 7:25 am PST)
Stocks are slightly higher on
the morning after President Obama’s State of the Union address. In his address, Obama touched on issues
ranging from the economy to climate change and gun control. His agenda for reviving the economy included
raising the minimum wage, focusing on infrastructure spending and a possible
trade pact with the European Union that would boost exports and create
jobs. Throughout his address, he made
clear his advocacy for the hard-working middle class and a more responsible
Congress. The market is responding with
complacency this morning. January’s
retail sales report showed sales rose 0.1%, in line with expectations. In corporate news, shares of Comcast rallied
9% after announcing a 20% dividend hike and the repurchase of $2 billion in
stock. Comcast also announced a deal to
buy out General Electric’s 49% equity stake in NBC Universal, a deal valued at
roughly $16.7 billion. European markets
are higher and Japan’s Nikkei shed 1%.
Interest rates continue to melt up with the 10 year treasury yield
breaking over 2% and oil is also higher.
It appears another mixed day is in the making.
No comments:
Post a Comment