Aluminum producer Alcoa (Fortune 500) will be the first major firm to report fourth-quarter earnings after the closing bell Tuesday. ,
U.S. stock futures pointed to a flat opening after strong gains last week driven largely by the deal to avert the fiscal cliff.
Shares of Bank of America (Fortune 500) were higher in premarket trading after it announced a , $10.3 billion settlement with Fannie Mae (Fortune 500) to resolve current and future repurchase claims on loans that were originated before December 31, 2008. ,
International banks won a concession Sunday from the Basel Committee on Banking Supervision, which relaxed rules for lenders that had been proposed in hopes of preventing another global financial crisis. Bank stocks rallied on the news.
European markets were narrowly weaker in afternoon trading but found support from gains in the banking sector, while Asian markets ended mixed. The Shanghai Composite added 0.4%, while Hong Kong's Hang Seng advanced 0.1%. Japan's Nikkei dropped 0.8%, despite media reports indicating the government is preparing a fiscal stimulus package.
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|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.75%||3.66%|
|15 yr fixed||2.89%||2.79%|
|30 yr refi||3.74%||3.64%|
|15 yr refi||2.89%||2.79%|
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