Bloomberg:
- Mortgage applications in the US jumped last week, led by a surge in refinancing as long-term interest rates fell to the lowest level in two years.
- Countrywide Financial Corp.(CFC) said home loans in December were a better-than-forecast $24 billion. “Our fourth quarter ended with a number of positive operational trends,” President and COO Sambol said.
- Crude oil is unch., falling more than $1 bbl. from session highs, on worries over slowing demand, a rising dollar and rising gasoline supplies.
- Federal Reserve Bank of St. Louis President William Poole said risks to economic growth are more “uncertain” than inflation.
- QLogic Corp., whose computer-networking storage products are used by Hewlett-Packard(HPQ) and Sun Microsytems(JAVA), rose the most since October in US trading after sales and earnings exceeded its forecast.
- DuPont Co.(DD) climbed the most in five years in NY trading after it said profit gained last year and that 2008 earnings will be higher than previously forecast.
Wall Street Journal:
- Key Union May Back Obama Run.
- Faced with recession fears, the White House is considering tax rebates for individuals to encourage spending and tax breaks for businesses to encourage investment.
- SEC Provides Incentive For Mortgage Companies To Renegotiate Loans.
- NYSE Euronext(NYX) is the frontrunner to acquire the American Stock Exchange. A deal may be announced as soon as this month that values the exchange at $350 million.
NY Times:
- Clinton’s Emotional Moment May Have Won Over Voters.
Washingtonpost.com:
- New York Presses To Deploy More Bioweapons Sensors.