Feb 26, 2013
American equity markets open positively ahead of Fed
The US Stock market experienced a tepidly positive opening Tuesday, one day removed from the beat down received after Italian elections failed to provide a clear-cut winner, sparking widespread risk. In the United States, the Housing Price Index (MoM) came in at +0.6% in the month of December, consistent with expectations calling for the same growth. In addition, the Redbook Index (MoM) (February 17) grew +1.4%, compared with +1.5% previously. Finally, the S&P/Case-Shiller Home Price Indices (YoY) has climbed +6.8% in December, beating estimates of only +6.6%. Investors are cautiously watching the Fed testimony at 15:00 GMT.
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