Housing starts hit a 4-year high, cheering investors. But the Dow and Nasdaq muster only small gains because of weakness in IBM and Intel. Apollo shares sag on earnings warning. Nike ends ties with Lance Armstrong. Oil, gold move up.
The Fed chairman is worried about Europe and the 'fiscal cliff' but avoids saying how the central bank may boost the economy. Mattel and Coca-Cola lead a rebound from an early pullback. Intel shares rise on 2nd-quarter results. Crude oil rises.
Big Blue and Intel represent most of the Dow's decline. Qualcomm and American Express results don't move investors. Berkshire Hathaway dips after Warren Buffett says he has cancer. Crude oil and gold move lower.
IBM earnings are a touch less than expected. Intel's report prompts profit-taking. The major averages enjoy their best day in a month. Apple moves above $600. The IMF sees fragile growth in 2012. Warren Buffett has prostate cancer.
Concern that Spain could default on its debt may negate what should be a decent week for earnings. Companies reporting include Coca-Cola, Citigroup, IBM, Intel, Kimberly-Clark, Microsoft and GE. Also due is the March report on housing starts.
IBM, Intel and Microsoft power the blue chips and the S&P 500 Index higher. Google's earnings miss holds the Nasdaq back. Existing-home sales rose in December. Crude oil drops below $100; gold rallies.
The search giant misses estimates, but investors like earnings from IBM, Intel and Microsoft. The Dow gains 45. Bank of America's earnings cheer Wall Street. Jobless claims fall nearly to a 4-year low. F5 Networks earnings send shares soaring.
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