FOMC Meeting, Housing Prices & Sales, Q4 GDP, $118bn in Treasury Supply
Equity markets are looking to open about 1% higher following the substantial losses from last week.
90 minutes before the opening bell, Dow futures are up 55 points to 10,206 and S&P 500 Futures are trading 6.90 points higher at 1,097.90.
“A gain in stocks today would follow the worst three-day decline since the dark days of last March,” point out economists from BMO this morning.
Commodities are also higher with WTI Crude oil up 25 cents to $74.79 per barrel, and Spot Gold up $7.07 to $1,100.27.
Recapping last week, the Dow shed 4.19%, more than erasing all of the gains in 2010.
“Earning reports failed to provide much lift, the Chinese are threatening to tighten lending policies, jobless and housing figures disappointed, and the banking sector is worried about President Obama's financial reforms,” noted analysts from Schaeffer’s Investment Research.
The Week Ahead:
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