It is safe to say that an Apple a day will keep investors ignoring anything else. Durable goods dropped 4.2%. But people bought iPads and iPhones in droves. The stock is soaring 10% in premarket trading after a major consensus beat after the close yesterday. Dow futures are currently up 25 points. The Nasdaq and S&P futures are both higher, each adding 55 and 9 points respectively.
The bigger-than-expected drop in durable goods this morning is being blamed on commercial aircraft orders.
Europe was dealt another blow this morning when the UK unexpectedly slipped back into recession. This is the first double dip for the country since the 1970s and shows that the country and the European continent has a ways to go before they reach sustainable growth. [Read more...]