VIDEO: Apple Announces Earnings

Apple (AAPL) announced that it earned $8.2 billion, or $8.67 per share, during the fourth quarter, versus $6.6 billion, or $7.05 per share in the same period last year. Revenue increased by $34.96 billion, in line with estimates of $35.8 billion.

VIDEO: Daily Market Wrap: October 24, 2012

Better than expected housing data and positive earnings reports gave investors reason to be optimistic as the markets made a bit of a recovery today. The Commerce Department is reporting a 5.7 percent rise in new home sales in September to a seasonally adjusted annual rate of 389,000.