Fri, Nov 27 2009
|
|
Published June 23, 2009 09:08 am -  Stock futures up modestly ahead of home sales data(AP) — Investors are cautiously upbeat again after Monday’s big selloff.
Stock futures are edging higher early Tuesday ahead of the National Association of Realtors’ report on May sales of existing homes. Economists surveyed by Thomson Reuters predict an increase of 2.8 percent, which would be a sign the troubled housing market is starting to mend. The market’s moves were modest, though, following the Dow’s 201-point loss Monday — the index’s worst daily drop in more than two months. Stocks fell Tuesday in Japan but were slightly higher by afternoon trading in Europe. Later Tuesday, the Federal Reserve begins its two-day meeting on monetary policy. The Fed is widely expected to keep its key rate near zero, but investors are unsure how optimistic the policy makers will be in their economic assessment. Another cause for caution is the Treasury Department’s afternoon auction of $60 billion in two-year notes. Any evidence that demand for government debt is waning could give investors a scare. Treasury demand needs to stay strong for the government to finance its bailout and stimulus programs without significantly raising yields; Treasury yields affect borrowing rates for consumers. Before the market’s open, Dow Jones industrial average futures rose 16, or 0.2 percent, to 8,299. Standard & Poor’s 500 index futures rose 3.90, or 0.4 percent, to 892.50, and Nasdaq 100 index futures rose 4.00, or 0.3 percent, to 1,432. Bond prices dipped in early trading Tuesday ahead of the afternoon auction. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.71 percent from 3.69 percent late Monday. After selling off on Monday, crude oil was little changed, slipping 3 cents to $67.47 a barrel in premarket trading on the New York Mercantile Exchange. The dollar was mixed against other major currencies. Gold prices rose. Overseas, Japan’s Nikkei stock average sank 2.8 percent. In afternoon trading, Britain’s FTSE 100 rose 0.3 percent, Germany’s DAX index rose 0.8 percent, and France’s CAC-40 rose 0.1 percent. 
![comment on this story](http://community.cnhi.com/eve/ubb.x?a=dl&f=55410432
&x_id=local_story_174090838.html&x_subject=<img+src="+http://www.joplinglobeonline.com/images/zope/tuesday.gif"+border=0>+Stock+futures+up+modestly+ahead+of+home+sales+data&x_link=http://www.joplinglobe.com/dailybusiness/local_story_174090838.html)
•
Click to discuss this story with other readers on our forums.
More from the Business section
|
Print this story
E-mail this story
Post to del.icio.us
Obama and GOP differ over recipe for jobs, economy
Watch the day's top business stories unfold 
Americans search for cheaper Thanksgiving trips
 |
 |
: Special Offer For New Subscribers
:
 |
||||||||
|
||||||||
 |
|
|
Published by Newspaper Holding, Inc. 117 East Fourth Street, Joplin, MO 64801 Using our site is your agreement to the terms and conditions. News: news@joplinglobe.com • (417)623-3480 Advertise with the Joplin Globe Copyright © 2006 The Joplin Globe, Joplin, MO All rights reserved. 
|
Popular Business directory links - Joplin Apartments | Joplin Attorneys | Joplin Auto Dealers | Joplin Auto Parts | Joplin Auto Repair | Joplin Beauty Salons | Joplin Car Rental | Joplin Dentists | Joplin Doctors | Joplin Flowers | Joplin Hotels | Joplin Insurance | Joplin Loans | Joplin Mortgages | Joplin Movers | Joplin Pizza | Joplin Realtors | Joplin Restaurants | Joplin Storage | Joplin Tax Preparation | Joplin Travel | Joplin Featured | More...
|
|
Community Newspaper Holdings, Inc. • CNHI Classified Advertising Network • CNHI News Service |
![Add a comment on this story](http://www.joplinglobeonline.com/zope/add_comment.php?section_id=dailybusiness&story_id=local_story_174090838.html&headline=<img src=" http://www.joplinglobeonline.com/images/zope/tuesday.gif" border=0> Stock futures up modestly ahead of home sales data&portal_url=http://www.joplinglobe.com&portal=joplinglobe){kind=link}