U.S. stocks showed some strength in the last hour of today's session on news that housing starts jumped to a four-year high. But a disappointing outlook from Intel (NASDAQ:INTC) and lower than expected earnings from IBM (NYSE:IBM) dampened hopes for a major rally. All three averages closed just fractionally higher.
Also contributing to a lackluster finish were quarterly results from PepsiCo (NYSE:PEP). While profit was better than expected, revenue was disappointing.
Shares of ADT (NYSE:ADT) got a boost after Credit Suisse (NYSE:CS) initiated coverage with an outperform rating and a $45 price target. The analyst said the electronic security company offers long term value at a low cost of capital.
Tomorrow morning, investors will await the jobless claims data, as well as leading indicators.
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