The markets were closed in the United States yesterday due to the observance of
Presidents Day. Stock futures prior to opening bell are trending lower. Today,
the Consumer Board will release it's Consumer Confidence report for February.
Economists expect this index to rise over January's index report. In addition
to this release, Case-Shiller will release its home price index. Earnings
reports this day will stem from companies such as Home Depot, Wal-Mart, and
Macy's among others. On Wednesday, the National Association of Realtors will
release existing home sales numbers. The housing sector has struggled and
analysts anticipate that Wednesday's report will do little to help. Existing
home sales are expected to drop. earnings reports will post from companies such
as Lowes, Dollar Tree, and Saks among others. On Thursday, the Commerce
Department will release its new home sales report during the first half of
trading. In addition, the weekly initial jobless claims report will post this
day. Also on this day, the Commerce Department will release its Durable Goods
orders. Kohl's, General Motors, and Target are among companies scheduled to
post earnings reports this day. On Friday, the University of Michigan will post
its reading on consumer sentiment. Another reading on the U.S.'s fourth
quarter gross domestic product will post as well. This report will measure the
total of goods and services active in our current economy. Estimates for this
reading are skewed towards moderate growth. JCPenny is among the companies
scheduled to release earnings reports on the last trading day of the week.
Currently, market tracking prior to opening bell for the first day of trading
this week reveals that stock futures are posting in the red. The Dow Jones is
lower by .93 percent. The Nasdaq is lower by .42 percent and the S&P 500 is red
by .34 percent. Author: Frank Matto
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