Stocks Mixed in Spite of Generally Strong Tech Earnings (GE,INTC)
After tech stocks led an early rally in the markets, they came back down, with the Dow keeping a 0.76 percent gain but the S&P 500 and Nasdaq remaining flat. A report from the National Association of Realtors claims that December home sales were up 5 percent from November. In other positive news, California’s unemployment rate fell 0.2 percent in December from November, making it the fifth month in a row the rate has fallen. In corporate news, General Electric (GE) reported a 3 percent increase in earnings per share last quarter. Intel (INTC) today announced a management reorganization after a highly profitable Q4.
Word on the Street
- Strong earnings from blue-chip companies drove stocks up early in the day, but eventually they came down and ended mixed.
- Home sales were up in December.
- The jobless rate in California fell for the fifth month in a row.
- General Electric (GE) had its profits bolstered by its lending operations.
- After a strong Q4, Intel (INTC) announced a round of management changes.
Interesting Tidbits
- Will Emerging Markets Fall in 2012?
- Wall Street Woes Spawn New Generation of Hedge Funds.
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