Stocks set for a higher start

By CNNMoney.com staff


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. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized 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%
Data as of 6:29am ET
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%
Data as of 2:44pm ET

Sections

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

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.