U.S. stocks rose yesterday, steadying after fears over the deadly coronavirus in China sent the S&P 500 to its worst one day drop since October on Monday.

The S&P Case-Shiller 20-city home price index increased 2.6% in November versus a year ago. On a monthly basis, the index ticked up just 0.1% in November compared with October on a seasonally adjusted basis.  At the national level, home prices were up on an annual basis by 3.5%.  Phoenix saw the highest home-price appreciation in the country in November with a 5.9% increase.

Americans began 2020 with the most confidence in the economy since last summer, buoyed by an interim trade deal with China, a soaring stock market and the lowest unemployment rate in 50 years.  The closely followed index of consumer confidence climbed to a five-month high of 131.6 in January from a revised 128.2 in the prior month. It was the strongest reading since last August.

Apple posted record quarterly results for their holiday quarter yesterday afternoon while easily topping expectations for revenue and earnings.  The stock traded higher as the company also gave a revenue forecast for the current quarter than came in ahead of the consensus view.  Apple generated net income of $22.24 billion up from $19.97 billion in the year-earlier quarter. 

With Northwest Quadrant Wealth Management, I'm Tyler Simones