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Futures Up as Investors Await Home Sales, Personal Income Data

U.S. stock futures are slightly higher this morning, as investors await economic data. Futures on the Dow Jones Industrial Average gained 12 points to 12,182, while futures on the S&P 500 index rose 1.3 points to 1,311.30. Nasdaq 100 futures climbed 6.75 points to 2,323.75.

U.S. stocks closed higher on Friday, with the Dow Jones industrial average gaining 50 points to 12,221, the Standard & Poor's 500 Index rising 4 points to 1,314 and the Nasdaq Composite Index climbing 7 points to 2,743.

Continue reading Futures Up as Investors Await Home Sales, Personal Income Data

Week in Preview: Mosaic, Family Dollar Earnings and March Unemployment Rate

earnings expectationsThe calendar quarter winds down this week and quarterly reports are due from Apollo Group (APOL), CarMax (KMX), Global Payments (GPN), Krispy Kreme (KKD), Lennar (LEN) and McCormick (MKC). But analysts surveyed by Thomson Reuters have high hopes for results from fertilizer and animal feed maker Mosaic (MOS), apparel maker Phillips Van Heusen (PVH) and discount retailer Family Dollar (FDO). So here's a look at what they anticipate from these three companies.

Mosaic

During its fiscal second quarter, Cargill agreed to distribute its stake in Mosaic, and Mosaic also said it would redeem senior notes. Analysts anticipate that the Minnesota-based potash producer will report per-share earnings of $1.07, a jump of 53.3% from the same quarter of last year. Mosaic also is expected to post revenue of $2.4 billion for the three months that ended in February. That's a 35.9% rise from a year earlier.

Continue reading Week in Preview: Mosaic, Family Dollar Earnings and March Unemployment Rate

Pending Home Sales Down in January

pending home salesThe housing market got a bit of bad news Monday morning, with pending home sales falling faster than expected in January.

Consumer confidence has been on the rise over the past couple of months, but that boost in confidence did not carry over to pending home sales, which were down 2.8% during the month of January.

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Week in Preview: Unemployment Rate, Retail Earnings, Bernanke Testimony

earnings expectationsThis week we turn the calendar page, and that change brings with it a raft of economic data. Scheduled for release on Monday are pending home sales and personal income numbers for January, as well as the Chicago PMI and car and truck sales data for February.

On Tuesday, look for the ISM Manufacturing Index for February and construction spending numbers for January. That's followed on Wednesday by the week's first employment data: the Challenger Job-Cuts announcement and the ADP employment report for February. Federal Reserve Chairman Ben Bernanke will deliver his semiannual monetary policy testimony before Congress on both days.

Continue reading Week in Preview: Unemployment Rate, Retail Earnings, Bernanke Testimony

Week in Preview: GDP, FOMC Meeting, Housing Data and Lots of Earnings

earnings expectationsWith earnings season in full swing, the FOMC meeting on interest rates, the GDP estimate, and housing numbers due out, the coming week is shaping up to be a busy one. So here's a peek at what's on the economic calendar.

Monday

Quarterly reports from American Express (AXP) and McDonald's (MCD) will highlight Monday. Amgen (AMGN), CSX (CSX), Halliburton (HAL) and Texas Instruments (TXN) are also expected to report strong earnings results.

Continue reading Week in Preview: GDP, FOMC Meeting, Housing Data and Lots of Earnings

Week in Preview: Unemployment Rate, Fed's Beige Book, Canadian Banks

earnings expectationsBlack Friday has come and gone and the holiday shopping season is off and running. In addition to keeping on eye on how retailers are doing, there will be plenty of other economic data for analysts and investors to peruse on this week.

Continue reading Week in Preview: Unemployment Rate, Fed's Beige Book, Canadian Banks

The Week in Preview: Employment, Housing, Manufacturing, Earnings Expectations

earnings expectationsInvestors nervous about the possibly stalled economic recovery -- or worse, the beginning of the latter phase of a double-dip recession -- were not pleased with last week's housing numbers. Things were perhaps ameliorated somewhat by durable goods order numbers and a revised GDP that weren't as bad as expected, but that didn't stop the Dow from dipping below 10,000 later in the week, before fighting its way back above the benchmark to end the week, thanks largely to Fed chair Bernanke's comments on Friday.

Though the end of August is usually quiet, this week lots more economic data are due out, including more housing numbers: The Case-Shiller Home Price Index for June on Tuesday, construction spending numbers for July on Wednesday, and NAR's pending home sales for July on Thursday. There's not expected to be much to get excited about in these numbers.

Continue reading The Week in Preview: Employment, Housing, Manufacturing, Earnings Expectations

Pending Home Sales Surge 21.1% in March

Pending home sales rose 21.1% in March over 2009 numbers. The big driver was the expiration of the first time home buyer credit. Contracts had to be signed by the end of March to qualify. Nevertheless, these numbers are encouraging.

The National Association of Realtors' (NAT)' index stood at 102.9, up 5.3% It should be noted that pending sales lead existing sales by one to two months.

Separately, the Commerce Department released their numbers on manufactured goods. Excluding defense, factory orders were up 1.3%. Non defense capital goods, excluding aircraft were up 4.5%

Continue reading Pending Home Sales Surge 21.1% in March

The Week in Preview: A Quiet Start to the Cruelest Month

The so-called cruelest month has begun. And this coming week's economic calendar for the U.S. starts off with the ISM nonmanufacturer's survey results for April and NAR's pending home sales for February on Monday morning. This glimpse at the service and housing sectors will be followed by March's consumer credit numbers Monday afternoon. Then things are pretty quiet until Friday's release of factory orders and wholesale trade numbers for February.

Between the Monday and Friday economic numbers will come the release on Tuesday of the minutes of the March 16 FOMC meeting, a record of the Fed's most recent thinking on monetary policy.

Continue reading The Week in Preview: A Quiet Start to the Cruelest Month

Pending Home Sales Drop 7.6% in January

The index for pending home sales is closely watched because it is an indication of final sales. It usually takes about two months for real estate deals to be completed.

The newest numbers are not good. Pending home sales fell by 7.6% in January. The National Association of Realtors index stood at 90.4. A reading of 100 is considered normal. Analysts had expected a rise of 1% in January.

Continue reading Pending Home Sales Drop 7.6% in January

Home builders expected to post narrower losses, declining revenue

Still wondering whether the housing market has bottomed? Well, the next couple of days should offer some clues, as pending home sales numbers for April are due out later this morning, and home builders Hovnanian Enterprises Inc. (NYSE: HOV) and Toll Brothers Inc. (NYSE: TOL) will be releasing their quarterly results. While both are expected to have narrowed their losses, their revenues are expected to have shrunk by half, as well.

Continue reading Home builders expected to post narrower losses, declining revenue

Pending home sales rise in December, according to NAR

The troubled housing market got a bit of good news today, as the National Association of Realtors stated that pending home sales rose during the month of December.

According to today's report, pending home sales increased by 6.3% in December, coming off an all-time low that it set in November. The news comes as potential home buyers are starting to show interest in deeply-discounted homes.

Continue reading Pending home sales rise in December, according to NAR

U.S. pending home sales unchanged in January, better than expected

U.S. pending homes sales were flat in January 2008, the National Associations of Realtors announced Thursday, in a statement, with the association also forecasting a gradual housing sector recovery in the second half of 2008.

Economists surveyed by Bloomberg News had forecast that January 2008 pending sales would fall 1%.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in January 2008, held at a stable level of 85.9, unchanged from December 2007, but was 19.6% below the January 2007 reading of 106.8, the NAR said.

Regional stats

By region, the January 2008 Pending Home Sales Index was as follows: Northeast, down 4.1%; South, down 6.1%; West, up 13.0%; and Midwest, up 0.6%.

Continue reading U.S. pending home sales unchanged in January, better than expected

Pending home sales fall 1.5% in December, signaling housing slump continues

Sales of previously-owned homes fell for the second consecutive month in December 2007, signaling that the nation's worst housing slump in more than 20 years is no where near recovery stage.

The National Association of Realtors' index of signed purchase agreements decreased 1.5% to 85.9 in December 2007, the group said Thursday, in a statement. Economists had expected the index to fall about 1% in December. The index fell a revised 3% in November 2007, a downward revision.

Another sobering housing stat

Economist Glen Langan told BloggingStocks there's no way one can sugarcoat Thursday's housing sector statistic.

Continue reading Pending home sales fall 1.5% in December, signaling housing slump continues

Pending home sales plunge 2.6% in November

Sales contracts of previously-owned homes plunged -2.6% in November 2007, a stat that suggests the contraction in the housing sector will persist in the immediate months ahead.

The National Association of Realtors announced that the pending home index, which tabulates contracts signed for homes but not closed, fell 2.6% in November 2007. Economists had expected a 0.7% decline in November 2007. The index rose in September 2007 and October 2007.

Further, the index declined 19.2% during the previous 12 months. The index declined in 3 regions: -13% in the Northeast, -4.1% in the Midwest, -2.1% in the West, but increased +2.3% in the South.

Continue reading Pending home sales plunge 2.6% in November

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 12, 2012: 08:33 AM

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