U.S. stocks headed for a moderately lower opening Tuesday as investors paused ahead of the latest reading on the housing sector, which is due before the opening bell.
March 20, 2007 (Press Release) --
U.S. stocks headed for a moderately lower opening Tuesday as investors paused ahead of the latest reading on the housing sector, which is due before the opening bell.
A Commerce Department report on February housing starts and building permits comes on the same day the Federal Reserve begins a two-day meeting on interest rates. While Wall Street won't hear from the central bank until Wednesday, investors will likely still consider whether recent market gyrations and a sense that the economy is slowing will prompt the Fed to signal a change in its stance on interest rates.
Investors made small bets ahead of Tuesday's housing report. Dow Jones industrials futures expiring in June fell 14, or 0.11 percent, to 12,315. Standard & Poor's 500 index futures fell 3.10, or 0.22 percent, to 1,412.70. Nasdaq 100 index futures slipped 2.50, or 0.14 percent, to 1,778.75.
Wall Street expects housing starts will increase to 1.450 million from 1.408 million in January, and that building permits will fall to 1.56 million from 1.57 million.
A handful of important corporate profit reports will perhaps also affect sentiment. Morgan Stanley is the latest Wall Street brokerage scheduled to report fiscal first-quarter results. Later, database and software maker Oracle Corp. plans to release its fiscal third-quarter earnings.
Stocks rose in Asia and fell in morning trading in Europe a day after strong gains on Wall Street.
Author: TIM PARADIS
Source: http://www.mercurynews.com/
A Commerce Department report on February housing starts and building permits comes on the same day the Federal Reserve begins a two-day meeting on interest rates. While Wall Street won't hear from the central bank until Wednesday, investors will likely still consider whether recent market gyrations and a sense that the economy is slowing will prompt the Fed to signal a change in its stance on interest rates.
Investors made small bets ahead of Tuesday's housing report. Dow Jones industrials futures expiring in June fell 14, or 0.11 percent, to 12,315. Standard & Poor's 500 index futures fell 3.10, or 0.22 percent, to 1,412.70. Nasdaq 100 index futures slipped 2.50, or 0.14 percent, to 1,778.75.
Wall Street expects housing starts will increase to 1.450 million from 1.408 million in January, and that building permits will fall to 1.56 million from 1.57 million.
A handful of important corporate profit reports will perhaps also affect sentiment. Morgan Stanley is the latest Wall Street brokerage scheduled to report fiscal first-quarter results. Later, database and software maker Oracle Corp. plans to release its fiscal third-quarter earnings.
Stocks rose in Asia and fell in morning trading in Europe a day after strong gains on Wall Street.
Author: TIM PARADIS
Source: http://www.mercurynews.com/
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