Breakfast Bites: Equities are mixed this morning, currently trading between negative and positive territory on continued concerns over a recession in Europe after some weak economic reports
- The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 4.5% in the week ended Feb 17.
- Sales of previously owned U.S. homes rose in January by 4.3%, the highest level since May 2010
- European services and manufacturing output unexpectedly shrank in February (49.7 from 50.4) as the euro-area economy struggled to rebound from a contraction in the fourth quarter.
- China's manufacturing sector contracted for the fourth month in a row in February.
- Fitch Ratings downgraded Greece’s credit rating to C from CCC, signaling it expects imminent default