Positive housing reports
Three reports delivered good news on the economy. People filing for unemployement benefits fell to the lowest point in almost 4 years last week. Housing starts were up 1.5% in January compared with December, so more growth there and a report showed inflation in January rose less than forecast so that means prices are staying steady.
Air Tran and Southwest airlines raising fares
Southwest's round trip fares went up by $10 on most long- and medium-haul flights. The price increase includes Southwest's partner Airtran's flights too. JP Morgan says the airline industry response was largely unanimouswith remaining competitors like American Airlines and Delta likely to match Southwest's price increase today.