Monday, September 20, 2010

BEFORE THE BELL: US Stock Futures Higher Before Housing Data -

BEFORE THE BELL: US Stock Futures Higher Before Housing Data -
"Futures on the Dow Jones Industrial Average gained 22 points to 10560 and S&P 500 futures were up 3 points at 1122.7. Nasdaq 100 futures rose 5 points at 1957.75.

The moves came after modest gains for Wall Street in the previous session, which contributed to the third straight weekly gain for U.S. markets.


Home builder Lennar Corp. (LEN) was another gainer, adding 5.3% ahead of the open, after it reported a return to profitability in the fiscal third quarter, with earnings of 16 cents a share handily beating the 4-cent consensus forecast.
Discover Financial Services (DFS) posted a third quarter profit of 47 cents a share as card sales volume rose 5% and loan loss provisions fell 34%.
European stocks also made a healthy start to the week Monday, with the U.K.'s FTSE 100 index jumping 1.1% and the German DAX 30 index gaining 0.5%.

After U.S. stock markets open, at 10 a.m., EDT, the National Association of Home Builders will release its September housing-market index. Economists surveyed by Dow Jones Newswires expect the index to rise to 14 from 13. This will be the first in a string of housing-market data due this week.

On Tuesday, the Federal Reserve will announce its latest rate decision"
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