Markets Anticipate Week of Sunny Data
Equities are looking to a strong open ahead of week that, according to economists, should be full of cheery data before Christmas Day.
One hour before the opening bell, the Dow looks to open 40 points higher at 10,311 while futures on the S&P 500 are up 5.25 points to 1,103
Meantime, WTI Crude oil is up 36 cents to $74.78 per barrel and Spot Gold is up $0.90 cents to $1,114.10 per ounce.
“The U.S. dollar is broadly stronger (except against the Canadian buck), continuing its recent pattern of strengthening alongside a return of risk appetite—a sign of improved sentiment towards the greenback now that the U.S. economy is showing clearer signs of a durable recovery,” said economists at BMO Capital Markets in a morning note.
The key release to the four-day week is Durable Goods on Thursday morning. Those with an eye on real estate will also be anticipating Tuesday’s survey on existing home sales and Wednesday’s new home sales index. The consensus is for each of those entries to come in positive.
“Economic indicators are expected to roll in on the positive side next week, with November home sales expected to move up briskly, solid gains in November real consumption spending, and an uptick in consumer sentiment for December,” predict economists from IHS Global Insight.
Key Releases This Week:
No major data released.
- Treasury Auctions:
- 11:30 â€
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