Despite General Electric
General Electric reported disappointing earnings before the market opened, with earnings falling 18% to $0.39 per share. This was above the Street's expectation of $0.38 per share, but revenue missed big -- $38 billion versus expectations of $40 billion. In early trading, GE fell 2.4% before rising to be down just 1%.
U.S. home sales data from the National Association of Realtors is the big news of the morning, rising 5% to a 4.61 million annualized rate. This rise has helped housing inventory up for sale to fall to the lowest level since 2005.
Today's top Dow stock is IBM
The best approach
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Dan Dzombak holds no position in any company mentioned. Click here to see his holdings and a short bio. The Motley Fool owns shares of International Business Machines and Microsoft. Motley Fool newsletter services have recommended buying shares of and creating a bull call spread position in Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.