Housing Data Offsets Weak Retail Sales Report
The housing sector continued to look up this week, while retail sales seemed remarkably soft.
This week European bond rates and corporate earnings dominated the market action. Earnings seemed to be coming in better than most expected, though in many cases revenue was light. The European slowdown continues to bite into some earnings reports as well.
Although there were pockets of weakness, tech stocks seemed to be doing particularly well. Microsoft (MSFT), Google (GOOG), IBM (IBM), and Intel (INTC) all seemed to impress investors with their results. The news out of the manufacturing sector wasn't so glum, either, as exemplified by decent, if not stellar, results from GE (GE).
Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.