Mon, May 28, 2012, 8:45 PM EDT - U.S. Markets closed for Memorial Day

US stocks open higher ahead of economic data

Stock market edges up ahead of reports on housing sales, consumer sentiment

Associated Press – Fri, Feb 24, 2012 9:44 AM EST

NEW YORK (AP) -- The Dow Jones industrial average is pushing closer to 13,000 at the opening of trading, and other stock indexes are opening higher ahead of reports on new home sales and consumer sentiment. Both reports are expected to show signs of an economy slowly gaining strength.

The Dow is up 6 points to 12,991. Procter & Gamble is the average's leading stock in early trading, rising less than 1 percent.

Later this morning, the Commerce Department will report new home sales for January. Analysts forecast that sales rose to 315,000.

In other trading, the S&P 500 index added 2 points to 1,365.

The Nasdaq composite index is up 5 points to 2,962.

Also on tap Friday is the Thomson Reuters/University of Michigan's consumer sentiment index, which has been rising in recent months as the job market has improved.

 

10 comments

  • Mike
    Mike  •  3 months ago
    What a load of junk! Just another example of the use of propaganda. Goebbels would be so proud of the how the Liberal Media is propping up the economy to make Obama look good. People are smarter than that. The difference is Hitler was putting people to work and improving the economy, that's the only difference here is that our economy is tanking.
  • tallyman
    tallyman  •  3 months ago
    Happy days are here again
    The skies above are clear again
    So let`s sing a song of cheer again
    Happy days are here again
  • Bryon
    Bryon  •  Cincinnati, Ohio  •  3 months ago
    New home sales are down. Builders are out of business. Housing sales less than half of a good economy. Stocks hare to rock up!
  • An average guy
    An average guy  •  Houston, Texas  •  3 months ago
    These writers need to put the pipe down and talk to the real world folks who have seen costs surge, too much month at the end of the money, and are worried if the next payment is the last one they will be able to make. Right! Things are looking up.
  • Grant
    Grant  •  3 months ago
    Trust no article Its all illusion. Those that can sway the news do and make money off of it. Hers what I just read from another source today. Why didnt it sway the opposite reaction?
    "But the latest research has shown that the weak housing market has punched above its weight class by pulling down spending on key services and durable goods and kept state and local governments from stimulating demand because of the decline in local property tax revenue."
    • tallyman
      tallyman 3 months ago
      Sadly my home`s value has gone down. And my property taxes have gone up. Local governments are expanding their spending here, for the past 6 years.
  • bigblu
    bigblu  •  3 months ago
    This really hurts my brain.
  • Stock Wizard-Sir Roger
    Stock Wizard-Sir Roger  •  3 months ago
    Ever notice how Reuters and AP publish the same story. Must be they are receiving the propaganda from the same source.....Media Matters. Media Matters spends a lot of time at the White House which was revealed a couple of weeks ago. Their material (White House propaganda) is also used by one liberal news station (you guess which one).
  • Mark
    Mark  •  3 months ago
    Stocka are higher because corporations are buying their own stock through buybacks.
  • Anon Amos
    Anon Amos  •  3 months ago
    HFT programs fed with 0% interest money
  • Jason
    Jason  •  Houston, Texas  •  3 months ago
    Funny how all articles you read attribute a reason for why the stocks did something...this one being that stocks are up on ho hum data. Common investors, all 8 of them, have no idea what data beats and misses will do to stocks anymore.
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