Midday Report: U.S. stocks mostly higher on strong data, rate-cut hopes

Date: Tue, 29 Jan 2008 17:06:04 (GMT)

U.S. stocks mostly higher on strong data, rate-cut hopes

U.S. stocks were mostly higher Tuesday after a surprisingly strong rise
in December durable-goods orders, and as investors anticipated another
interest-rate cut from the Federal Open Market Committee.

Economic Report: Durable-goods orders surge 5.2% in December

Orders for durable goods rose 5.2% in December, led by aircraft and
defense capital goods, the Commerce Department reported Tuesday.

Economic Report: Home prices fall record 2.1% in November

WASHINGTON
The decline in U.S. home values accelerated in November, with prices
falling for the third month in a row in all 20 cities tracked by the
Case-Shiller home price index released Tuesday by Standard & Poor's.

Countrywide posts quarterly loss as loan production plummets

BOSTON
Countrywide Financial Corp., the troubled mortgage lender that's in a
deal to be acquired by Bank of America Corp., reported Tuesday a sizable
fourth-quarter loss as loan production fell sharply toward the end of
2007.

SocGen chief remains under pressure after $7 bln loss

Societe Generale chief Daniel Bouton may face a tough task holding onto
his job at a board meeting later in the week after the bank's
reputation took a further blow over its $7 billion loss.