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Durable Goods, New Home Sales, Auctions
Shares in the S&P 500 have fallen for three consecutive days and on Wednesday futures are extending those losses ahead of fresh data and more Q3 earnings. About two hours before the open the S&P looks to open nearly 6 points down, after trimming 3.4 points yesterday. rnrnWhile investors wait for the durable goods report, which is expected to advance in September, sentiment will remain skittish as investors open up the Wall Street Journal to learn that GM’s financing arm, GMAC, is seeking more taxpayer aid.rn
Home Prices Higher in August. Will Housing Continue to Stabilize?
This month, the S&P Case Shiller Home Price Index continued to improve as prices in 17 of 20 metro cities increased in August, albeit at a slower pace than July. Overall, the 20-city index rose 1.2%, better than economist expectations for a read of +0.7% and the 10-city home price index increased at a rate of 1.3%. Year over year the 20-city index is 11.3% lower, again better than the market's expectation of -11.9%.
Home Price Index, Consumer Confidence, Treasury Auction
US equities are mixed in this morning’s future session after shares fell more than 1% on Monday. S&P 500 and Dow futures are each looking slightly up, but futures on the Nasdaq are slightly lower. rnrnYesterday stocks fell in the absence of fresh economic data, but today should be
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