Today investors will get some key data on housing starts and unemployment along with second quarter reports from Goldman Sachs, Apple, and Johnson and Johnson. One might suspect the news to be mixed. Housing has not been a particularly bright spot lately.
With the dollar down and oil at around $77, it will be a struggle to see which metric wins out for the direction of the market - poor economic data on housing and unemployment or reasonable second quarter corporate results.
CNN: Stocks set for mild open
A reading on housing starts and building permits comes out at 8:30 a.m. ET. A state unemployment report is due out at 10 a.m. ET.Reuters: Stock index futures down as Goldman results eyed
The dollar eased on Tuesday, inching closer to a two-month low versus the euro hit last week as investors continued to cut long positions on more disappointing U.S. economic data.
Oil climbed to $77 on Tuesday as forecasts for a fourth consecutive weekly drop in U.S. crude inventories bolstered the positive influence of rising stock markets in most of Asia.
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