American Morning

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December 21st, 2011
07:57 AM ET

AM Minding Your Business for Dec. 21, 2011

Today on American Morning, Christine Romans reports on the morning business news headlines.

This morning, we're watching:

* U.S. stock futures are up again after a promising housing report helped send the Dow up 337 points. New home construction jumped more than 9% in November, much higher than expected. Housing permits - a gauge of future construction - also climbed nearly 6%.
* Positive news from Europe is also helping to lift stocks. Struggling banks there can begin placing orders for unlimited three-year loans from the European Central Bank. It's an attempt to keep credit flowing during the debt crisis.
* Banking sector stocks catching a breather after this ECB measure. Bank of America's stock, which is down more than 60% since the beginning of the year, is up nearly 1% in pre-market trading this morning.
* Bank of America could be close to settling an investigation with the Justice Department. At issue is whether it's Countrywide financial unit violated fair lending practices by encouraging those risky subprime mortgage loans. According to Bloomberg, the deal, which could be announced this week, could mean Countrwide customers would be compensated.
* Honda is now reportedly shipping cars made in China to North America. It's significant because companies import a lot of products from China to keep costs down.

Tune in to American Morning at 6am Eastern every day for the latest in business news.


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