Exactly how far is this bull going to run?
Investors will have that question to ponder as they head into Wednesday awaiting fresh economic data and the latest batch of corporate earnings.
U.S. stock futures were little changed ahead of the opening bell.
The housing market is taking center stage early Wednesday, after Toll Brothers (TOL) reported its fiscal first quarter earnings and as investors await data on housing starts and building permits at 8:30 a.m. ET. Economists are expecting the new data to show building permits increased, as new residential construction slowed slightly in January
Overall, the housing recovery is currently a bright spot in the economy. "After seven years of trepidation, buyers are reentering the housing market and household formations are increasing," said Robert Toll, Toll Brothers executive chairman, in a statement.
Related: Bonds are riskier than stocks
Toll Brothers shares fell 5.2% in premarket trading, after the homebuilder announced it earned 3 cents per share on revenue of $424.6 million in its fiscal first quarter. Both earnings and revenue were short of analysts' expectations, but nevertheless marked a turnaround from a year earlier, when the company recorded a loss in the same quarter.
At 2 p.m. ET, the Federal Reserve will release the minutes of its policy meeting from January 29-30, which investors will parse for clues about how long the central bank will continue its stimulus efforts.
U.S. stocks rose Tuesday, with the Dow and S&P 500 finishing at new 5-year highs and not far off records set in October 2007.
Fear & Greed Index still in "extreme greed" territory
On the corporate front, MGM Resorts (MGM, Fortune 500), Garmin (GRMN), Six Flags (SIX) and SodaStream (SODA) are all scheduled to report quarterly results in the morning, while Tesla (TSLA) is up after the bell.
After the close Tuesday, Dell (DELL, Fortune 500) reported earnings and revenue that fell from a year ago but topped analyst expectations.
Controversial nutritional supplements company Herbalife (HLF) also announced better-than-expected earnings and sales figures Tuesday afternoon.
European markets were little changed in morning trading, while Asian markets ended higher. The Shanghai Composite advanced 0.6%, the Hang Seng added 0.7% and Japan's Nikkei gained 0.8%.
Check gas prices in your state
Gas prices rose for the 34th day in a row, fueling concerns about whether higher prices at the pump will take a bite out of consumer spending in February. Nationwide, a gallon of unleaded gasoline averaged $3.766 Wednesday, according to AAA. Gas prices have risen 34 cents, or 10%, since the beginning of February.
Oil prices rose, while gold prices declined, falling below $1,600 an ounce for the first time since August 2012.
The price on the 10-year Treasury fell, pushing the yield up to 2.04% from 2.03% late Tuesday.
The U.S. dollar fell against the euro and the Japanese yen, but gained against the British pound.
Source link: http://money.cnn.com/2013/02/20/investing/premarkets/index.html
Investors will have that question to ponder as they head into Wednesday awaiting fresh economic data and the latest batch of corporate earnings.
U.S. stock futures were little changed ahead of the opening bell.
The housing market is taking center stage early Wednesday, after Toll Brothers (TOL) reported its fiscal first quarter earnings and as investors await data on housing starts and building permits at 8:30 a.m. ET. Economists are expecting the new data to show building permits increased, as new residential construction slowed slightly in January
Overall, the housing recovery is currently a bright spot in the economy. "After seven years of trepidation, buyers are reentering the housing market and household formations are increasing," said Robert Toll, Toll Brothers executive chairman, in a statement.
Related: Bonds are riskier than stocks
Toll Brothers shares fell 5.2% in premarket trading, after the homebuilder announced it earned 3 cents per share on revenue of $424.6 million in its fiscal first quarter. Both earnings and revenue were short of analysts' expectations, but nevertheless marked a turnaround from a year earlier, when the company recorded a loss in the same quarter.
At 2 p.m. ET, the Federal Reserve will release the minutes of its policy meeting from January 29-30, which investors will parse for clues about how long the central bank will continue its stimulus efforts.
U.S. stocks rose Tuesday, with the Dow and S&P 500 finishing at new 5-year highs and not far off records set in October 2007.
Fear & Greed Index still in "extreme greed" territory
On the corporate front, MGM Resorts (MGM, Fortune 500), Garmin (GRMN), Six Flags (SIX) and SodaStream (SODA) are all scheduled to report quarterly results in the morning, while Tesla (TSLA) is up after the bell.
After the close Tuesday, Dell (DELL, Fortune 500) reported earnings and revenue that fell from a year ago but topped analyst expectations.
Controversial nutritional supplements company Herbalife (HLF) also announced better-than-expected earnings and sales figures Tuesday afternoon.
European markets were little changed in morning trading, while Asian markets ended higher. The Shanghai Composite advanced 0.6%, the Hang Seng added 0.7% and Japan's Nikkei gained 0.8%.
Check gas prices in your state
Gas prices rose for the 34th day in a row, fueling concerns about whether higher prices at the pump will take a bite out of consumer spending in February. Nationwide, a gallon of unleaded gasoline averaged $3.766 Wednesday, according to AAA. Gas prices have risen 34 cents, or 10%, since the beginning of February.
Oil prices rose, while gold prices declined, falling below $1,600 an ounce for the first time since August 2012.
The price on the 10-year Treasury fell, pushing the yield up to 2.04% from 2.03% late Tuesday.
The U.S. dollar fell against the euro and the Japanese yen, but gained against the British pound.
Source link: http://money.cnn.com/2013/02/20/investing/premarkets/index.html
