Stocks End Mixed as Bank Profits Temper Growth Concerns

U.S. stocks ended mixed on Wednesday as solid earnings from two major banks and a bounceback in Apple shares offset concerns about a lower forecast for global growth in 2013. The Dow Jones Industrial Average fell 23.66 points, or 0.17%, to 13,511.23. The S&P 500 index gained 0.29 point to 1,472.63. The Nasdaq Composite climbed 6.76 points, or 0.22%, to 3,117.54.

Homebuilder confidence in the market for single family homes held steady at near seven year highs in January, suggesting the outlook for the housing market remained upbeat.The NAHB/Wells Fargo Housing Market index was at 47 this month, the highest level since April 2006. Economists polled by Reuters had expected the index to edge up to 48.

EBay Inc reported an 18 percent increase in fourth-quarter revenue on Wednesday. The operator of one of the world’s largest online marketplaces also reported earnings of $927 million, or 70 cents a share, in the period. That compares with profit of $789 million, or 60 cents a share, in the same quarter last year. EBay forecast 2013 revenue of $16 billion to $16.5 billion and profit of $2.70 to $2.75 a share.






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