Building permits had an increase of .057 million since last period’s .723 million number, and stronger than the expected .728 million.
Gold futures fell $5.00 to $1622.00 and WTI crude futures were up 74 cents to $84.01.
FedEx (FDX) rose over 3.5% as it reported a decline in profit, but ensuring that the international shipping company would significantly cut costs in the near future. FDX predicted earnings of $1.45 to $1.60 for the current quarter, a decrease of around 10 cents the original predicted value.
Microsoft Corp. (MSFT) gained almost 4% after releasing a new tablet that will compete with the iPad.
Financial stocks rallied as Jamie Dimon addressed the House Financial Services Committee. Bank of America (BAC) gained 5.03% after rumors that Julius Baer would buy their Merrill Lynch International Wealth Management business.
In energy stocks, Chesapeake Energy Corp. (CHK) rose 5.32% after investor Carl Icahn will name Vincent Intrieri as a director.
Falling on Wall Street, Walgreen (WAG) fell 5.96% after lower than expected quarterly profit, and news of a $6.7 billion acquisition of Alliance Boots.Barnes & Noble Inc. (BKS) lost 6% after reporting a larger than expected loss.
David Cornes holds a degree in economics from the University of Montana.