The Morning Market

The stock market is pulling back this morning on the news of that consumer confidence fell sharply last month. The index fell to 49.3 from the previous reading of 54.8. Wall Street was expecting a small increase to 55.3.

The other news is that home prices fell by 18% over the past year according to the Case/Shiller Index. The good news, if you can call is that, is that the rate of decline has slowed.

There is real good news out there. One of my favorite for-profit educations stocks, Apollo Group (APOL), gapped up today on a good earnings report. Q3 earnings jumped 44% to $1.26 a share which topped estimates of $1.12 a share. The stock has been up as much as 10% today. Apollo Group continues to be an excellent buy.

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