Home sales, key earnings top calendar

David Russell (david.russell@optionmonster.com)

New home sales for December are the key event on today's economic calendar.

The Commerce Department will release the data at 10 a.m. ET. Economists anticipate a reading of 385,000, up from 377,000 one month earlier. The monthly figures are annualized.

Earlier in the morning, Germany's Ifo Institute will release its index of economic sentiment. The report could affect sentiment toward equities and commodities.

The pre-market session will also see earnings reports from Procter & Gamble, Honeywell, and Halliburton.

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