UK Market close and US Midday

Well what can we say? We can't get everything right, did not expect such positive housing data to come out at such a key moment.

UK financials were on their way downwards with the entire market almost down by half a percent before the vital news broke out that sparked a quick rally. Closing up at 0.93% while financials reclaimed their gains earlier in the day.

The US market also opened on bearish sentiment with most major financials down at the start. With a flurry of optimistic earnings reports following Morgan Stanley's slightly negative one driven by AT&T, Ford and GE pushing the whole market up.

There are also rumours of Freddie Mac's Acting CFO's suicide, this may prove another turning point if there is a significant case for it, but we shall leave that for now.