Yesterday the week long correction took a pause as markets moved to the upside. Today just before lunch the Federal Reserve will end their two day meeting and tell us what they decided. This could move markets.
Boeing posted a 26% increase in profits last quarter on sales that were up 6.6%. The company expects to deliver between 715 and 725 planes this year. But those results were less than traders expected and the stock is down about 3%. (Reuters)
US mortgage applications were essentially flat last week according to the Mortgage Bankers Association. As interest rates start to tick up and the refinancing boom tapers the mortgage index hit its lowest level since December 2000 as we ended 2013. The 30-year fixed rate stands at 4.52%.
December consumer confidence hit its highest level since August as the job market and business conditions improve. For 2013 the confidence index averaged its highest level since 2007. (Associated Press)
With the lack of snow in the west many in the ski industry expect consolidation as smaller resorts struggle. One of the big winners could be Vail Resorts, ticker signal MTN. They have been on an acquisition binge the last couple of years. (Bloomberg)