Stocks were higher today after encouraging news from the eurozone. The S&P 500 closed at a record high.
Eurozone GDP grew 0.3% in the fourth-quarter, above the 0.2% growth expected by economists. The outperformance was driven by an acceleration of growth in Germany. There were also signs today that Greece and the rest of the eurozone were having more productive negotiations over the country’s bailout program, raising hopes that an agreement could be reached.
Consumer sentiment slipped in early February according to the University of Michigan survey. The reading of 93.6 was off from a final January reading of 98.1. One-year inflation expectations rose to 2.8% from 2.5%.
Jeremy Glaser | Morningstar.com