NEW YORK (CNNMoney.com) -- U.S. stocks were set to open higher Tuesday as investors await a new reading on the strength of the housing market, and consider the progress of Wall Street reform legislation.
Dow Jones industrial average, S&P 500, and Nasdaw 100 futures were up slightly ahead of the opening bell.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins.
Stocks gained Monday, with health care shares ending sharply higher, as Congressional approval of a sweeping reform bill removed the uncertainty that has surrounded its passage for months.
"We had a relatively robust day yesterday, and today we'll be hard pressed to see any news that will put any resistance on the upside," said Art Hogan, chief market strategist at Jefferies & Co. "I think the overarching feel is that we've taken a bite out of the apple on health care reform, and the market is OK with that."
Investors will check the pulse of the housing market and the economic recovery with home resales data from February. The annual rate of existing home sales is expected to fall, and Hogan said the decline won't spook the market from advancing.
Economy: After the market opens Tuesday, the National Association of Realtors will release its existing home sales index for February at 10 a.m ET. According to Briefing.com, analysts expect sales to have fallen to a 5-million-unit annualized rate, from 5.05 million in January.
Late Monday, the Senate Banking Committee approved a regulatory reform bill put forth by Sen. Christopher Dodd, D-Conn., passing it on to the full Senate for the vote.
World markets: Asian stocks ended mixed. In Japan, Tokyo's Nikkei index slipped nearly 0.5%, while the Hang Seng in Hong Kong gained 0.3%.
In Europe, Britain's FTSE 100, France's CAC 40 and Germany's DAX were up slightly in early trading.
The dollar and commodities: The dollar advanced against the euro, pound and yen.
Crude oil for May delivery rose 6 cents to $81.66 a barrel, and the price of gold for April delivery rose 60 cents an ounce to $1,100.10.
Treasurys: The price of the benchmark 10-year note rose, lowering the yield to 3.66%. Treasury prices and yields move in opposite directions.
Overnight Avg Rate | Latest | Change | Last Week |
---|---|---|---|
30 yr fixed | 3.80% | 3.88% | |
15 yr fixed | 3.20% | 3.23% | |
5/1 ARM | 3.84% | 3.88% | |
30 yr refi | 3.82% | 3.93% | |
15 yr refi | 3.20% | 3.23% |
Today's featured rates:
Index | Last | Change | % Change |
---|---|---|---|
Dow | 32,627.97 | -234.33 | -0.71% |
Nasdaq | 13,215.24 | 99.07 | 0.76% |
S&P 500 | 3,913.10 | -2.36 | -0.06% |
Treasuries | 1.73 | 0.00 | 0.12% |
Company | Price | Change | % Change |
---|---|---|---|
Ford Motor Co | 8.29 | 0.05 | 0.61% |
Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
General Electric Co | 13.00 | -0.16 | -1.22% |
Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More |
Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More |
Honda and General Motors are creating a new generation of fully autonomous vehicles. More |
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More |
Whether you hedge inflation or look for a return that outpaces inflation, here's how to prepare. More |