U.S. stocks are higher this morning, despite European equities being under pressure on security concerns after the attacks in Paris. This week’s trading action has been an excellent example of how emotions, not fundamentals, can push markets around in the short-term. In other potential market moving news we get the latest Fed minutes late this morning. (CNBC)
Lowe's, the No.2 U.S. home improvement chain, reported better-than-expected results helped by a strong recovery in the U.S. housing market. Lowe's same-store sales rose 4.6% in the quarter. The company's profits rose to $736 million, from $585 million a year ago. Net sales rose 5% to $14.36 billion. (Reuters)
Target raised its full-year earnings forecast for the second time in three months. Target posted third-quarter profits up 59% from last year. Revenue was essentially flat. (CNBC)
Homebuyers seem undeterred by the highest mortgage rates in five months, with loan application volume increasing 6.2% last week, according to the Mortgage Bankers Association.
Sales of electronic cigarettes have fallen sharply in recent months; ending five years of triple-digit growth and making the much-touted category look more like a potential fad than real threat to Big Tobacco. (WSJ)