While much of the focus of the pending tax cut package seems to be on the reductions and breaks for individuals, there are some goodies tucked in for corporations as well.

They include a two-year extension of the research and development credit, which covers employment costs of employees involved in research, and $22 billion for accelerated depreciation, which allows companies to write off all of their costs of assets placed in service after September 8, 2010 and through December 31, 2011, in one year. This will be followed by 50 percent bonus depreciation for assets purchased during 2012.

Let's face it. This is a difficult economy to get optimistic about, even though a fair amount of data is improving.

For every piece of positive news, there is frequently a discouraging report. Today's news that housing values have declined in most major markets is a good example, coming amid a mini-stock market rally due in part to pretty strong third quarter earnings reports.