Tue 24 Apr 2012 11:21:02 CT
US equity markets trended higher during the morning hours, helped by easing sovereign debt concerns in Europe and round of upbeat corporate earnings. Dow Jones Index components AT&T, 3M and United Technologies all reported better than expected earnings prior to the Wall Street open, and that helped bolster the major indices. This morning's flow of US economic data was mixed, with a nice gain in February home prices, drop in the number of new home sales in March and fractionally weaker than expected read on April consumer confidence. The major indices managed to overcome modest weakness and rallied into new high ground into lunchtime. Meanwhile, weakness in the shares of Apple ahead of their earnings report after the close was seen as a force weighing on the tech-heavy NASDAQ.
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