US futures mixed ahead of housing report

Stock market edges up on stronger housing report

FILE - In this Monday, Oct. 15, 2012, file photo, Traders Ronald Madarasz, left, and Vincent Quinones work on the floor of the New York Stock Exchange. Rising speculation that Spain will soon ask for help to keep its borrowing costs down continued to shore up markets Wednesday Oct. 17, 2012 in the run-up to a meeting of European leaders. (AP Photo/Richard Drew)

NEW YORK (AP) -- U.S. stock futures are mixed as the market digests a new round of earnings from major U.S. corporations like Bank of America, PepsiCo, and Halliburton.

Dow Jones industrial futures are up 9 points to 13,462. The broader S&P futures have added 2.8 points to reach 1,452. Nasdaq futures are down 2 points to 2,763.25.

The Commerce Department releases its latest housing report Wednesday and economists expect that builders started construction on more homes in September than in August.

Citigroup analyst James Finnerty says the housing industry has struck bottom, but he's cautioning clients that high unemployment continues to weigh on the pace of recovery. He believes rising activity in housing is being fueled primarily by cheaper financing and higher share prices.

The Labor Department releases its weekly unemployment claims report Thursday.