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Tuesday Sees Gains All Around on Upbeat Economic Data (ORCL, BAC)

By: , dated June 25th, 2013
Markets were able to recover on Tuesday after several positive economic reports were released. Consumer sentiment hit a five year high in June and orders for durable goods increased 3.6%. Sales of new homes also hit a five year high. Housing market companies Lennar Corp (LEN) and PulteGroup Inc. (PHM) saw shares rise on this news. Fed chatter died down slightly as many realized that a taper would not occur for quite some time. Carnival Corp. (CCL) traded higher after announcing it would be replacing long-time CEO. Netflix (NFLX) was downgraded to “underperform” on Tuesday and shares fell just over 2%. The US dollar gained against the yen and most other major currencies.

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