"The U.S. equity markets are ticking higher in late-morning action, despite some disappointing domestic earnings and economic reports, amid expectations that the Federal Reserve will maintain its stimulus measures to support the economic recovery. Dow members Wal-Mart Stores Inc and Cisco Systems Inc both exceeded the Street's earnings forecasts, but their revenues missed and they offered disappointing guidance, while Kohl's Corp posted softer-than-expected quarterly results and lowered its outlook. On the U.S. economic front, jobless claims fell by a smaller-than-expected amount, the trade deficit widened more than anticipated, and 3Q nonfarm productivity missed estimates. However, Fed Vice Chairman Janet Yellen suggested that the Central Bank will continue to support the economic recovery during her Capitol Hill testimony regarding her nomination to succeed Ben Bernanke as the next head of the Fed. Treasuries, gold and the U.S. dollar are all higher, while crude oil prices are mixed. Overseas, Asian stocks finished higher as Japanese equities rallied on a weaker yen, while the European markets are mixed following some diverging GDP reports in the region and optimism regarding the Fed's stimulus measures after Yellen's comments".
Source: Schwab
Source: Schwab
