Daily Market Wrap: January 29, 2013 Tuesday, January 29, 4:12 PM ET
After a flat open on Wall Street, the markets gained momentum in the afternoon, pushing the Dow and the S&P 500 higher.
The Conference Board is reporting a sharp drop in consumer confidence, down to 58.6 in January.
Also on the economic front, home prices in the U.S. were up 5.5 percent in November from a year ago, according to the Case-Shiller housing price index.
There was plenty of news on the earnings front with pharmaceutical companies Pfizer (NYSE:
PFE) and Eli Lilly (NYSE: LLY) both edging past Wall Street expectations.
Shares of both drugmakers are trading higher today.
Among tech earnings, Yahoo (
YHOO) reported better than expected profit for the fourth quarter, while revenue met expectations.
VMW) posted disappointing earnings guidance, sending shares lower today. The company also announced 900 job cuts.
Tomorrow, we'll take a look at the numbers for weekly mortgage applications as well as earnings from Amazon.com (NASDAQ:
For Marketnewsvideo.com, I'm Sayoko Murase.
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Daily Market Wrap: January 29, 2013
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