What to watch, courtesy of Yahoo! Finance's Elizabeth Trotta
Futures are higher amid the latest bout of earnings and economic data and as the International Monetary Fund indicated it wants to boost its lending facility. Talks between finance ministers and creditors have resumed in Greece, where the threat of default hangs over negotiations.
Earnings continued with Goldman Sachs shares trading higher in the premarket after reporting better than expected profit of $1.84 a share, but on weaker than anticipated revenue. Yahoo shares will also be in focus after co-founder Jerry Yang resigned all positions including his seat on the board of directors.
Data on inflation at the wholesale level, industrial production, capacity utilization and the NAHB Housing market index will be released throughout the morning. Earlier, the Mortgage Bankers Association said early that as interest rates dropped a wave of refinancing demand supported a 23.1% jump in applications for home mortgages.
Early headlines to note:
7 a.m. MBA Mortgage Index: +23.1%
8:30 Producers Price Index: Expected 0.1%, Prior 0.3%
9 Net Long-term TIC Flows: Prior $4.8B
9:15 Industrial Production: Expected 0.5%, Prior -0.2%
9:15 Capacity Utilization: Expected 78.1%, Prior 77.8%
10 NAHB Housing Market Index: Expected 20, Prior 21
Later this week:
Thursday: Initial jobless claims, mortgage rates, crude inventories, housing starts, CPI, Philadelphia Fed Index
Friday: Existing home sales