Stocks closed higher in choppy trading, after posting the biggest two-day decline in more than a month. The ECB injected more than $500 billion into the banking system in an effort to ease problems in the credit market. The BoE offered $20 billion to U.K. based banks.
Goldman Sachs (GS | Quote | Chart | News | PowerRating) reported a rise in Q4 profit which beat estimates (read more).
Best Buy (BBY | Quote | Chart | News | PowerRating) reported Q3 earnings that also beat expectations, and raised its full-year outlook (read more).
Shares of Adobe Systems (ADBE | Quote | Chart | News | PowerRating) are trading higher after the company reported higher Q4 profit, raised Q1 guidance, and approved the buyback of an additional 30 million shares (read more).
Crude oil also reversed course to close down more than 1%, currently trading at $90.02 per barrel.
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Housing Starts (Nov): Actual 1187K, Consensus 1175K
Building Permits (Nov): Actual 1152K, Consensus 1150K
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