around the world thursday morning. hong kong closed for a holiday. european shares opened higher. on wall street, stock index futures at this hour are moving higher as well. stocks closed mixed after a key inflation report showed prices for consumers are still rising. the dow fell slightly, the s&p 500 and the nasdaq closed higher. we also saw minutes from the fed reserve s last meeting showing it will likely start cutting back on bond purchases later this year. more earnings rolling in this morning. bank of america and citigroup, morgan stanley will report results. foreclosures are resuming across the country. lenders started the foreclosure process on more than 25,000 properties last quarter. that s up 67% from a year ago. relief programs allowed borrowers who are having trouble making their payments to delay them for up to 18 months. those programs are now ending. one executive at realty track said foreclosures are still far below normal, but hundreds of thousands of borrowers are s
house was going to present an alternative sometime this year when pressed on the details in the exact timeline, he wouldn t get specific. but i do think it s notable, you sort of hear republicans getting rid of that word repeal, which certainly took up so much time and energy last year. they are shifting their strategy. it s an acknowledgement on their part that the president s health care law is not going anywhere at this point. alex? interesting assessment. okay, thank you very much. kristen welker at the white house. making money off of flipping houses begins today s number one realty track. the average profit from buying fixer uppers and selling them after a makeover was just over $15,000. the state that yielded the best highest average profit was massachusetts. on average, house flippers there made $103,000 off flipping homes. california came in second with $100,000. maryland third with a profit just above $98,000. denver broncos quarterback peyton manning goes into today s
and cognac. google is buying connected device maker nest labs for $3.2 billion. the company develops smart home appliances and smoke detectors. now, house money. the worst of the foreclosure crisis is officially behind us. the final numbers are in now. foreclosures hit a six-year low last year, just under 1.4 million properties in some stage of foreclosure. that s about one in every 96 homes. the wave has crested but lots of you are still underwater. realty track found one in five homeowners owes at least 25% more on the mortgage than the house is now worth. the healing is slow but there is healing. thank you for starting your saturdays with us. we re back at 2:00 p.m. eastern. corporations are rolling in record amounts of cash, so why is that money not trickling down to americans looking for better jobs or just looking for a livable wage? i go one-on-one with newt gingrich. coming up right now, snl
forth, stocks ended mixed. the s&p 500 hit a record high wednesday. a rough week for retailers. jcpenney announced 33 stores will close, and 2 soushgs employees laid off. the struggling retail hear been trying to turn itself around for years but is still losing money. meantime, best buy shocked wall street way surprise drop in holiday sheas. taking a 28% hit on thursday. housing, foreclosures dropped to the lowest level in six years. realty track says 1.34 million homes were foreclosed on this as home prices rise and the job market recovers. finally, did your child use your iphone to rack up charges without you knowing it? you could get a refund from apple. apple didn t tell parents the app remains open 15 minutes allowing more purchases to be made. one child made charges of
texas. salt lake city tribune cut water percentage by 50%. customers who do not obey could have their water supply cut off. southerby set to announce the sale of a rare blue diamond at auction. the stone weighs more than 7.5 carats and expected to sell for $19 million in auction in october. put that on your calendar, christine romans. cash out the 401(k) for that. a dow had its worst week of the year. the dow down 2.2%. 344 points for the week last week. the s&p was down about 2%. realty track and increasing home prices and came up with this. the leading and lagging areas in housing. among the leading housing markets, rochester, new york, cape coral, ft. myers, florida. update on the weather. in the pacific we re watching a chance for a disturbance to happen ahead near