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Strong Housing Data Helps Bulls Hang On

Stocks remain positive after receiving a boost at 10am when January new home sales hit an annualized rate of 468,000, better than the expected 400,000. In corporate news, Abercrombie & Fitch shares are still solidly higher after it reported Q4 earnings that soundly beat Street estimates. Target shares were also up nicely after it posted fourth-quarter earnings of 81 cents a share against estimates of 79 cents. On the downside, First Solar is down after disappointing on revenue and earnings late Tuesday, and DreamWorks shares are slumping after its Q4 results missed Wall Street estimates.