U.S. stocks were poised to open lower, as investors wait for developments in the Obama administration's stimulus and bank bailout plans. The markets rallied Friday in anticipation of a bank bailout plan announcement scheduled to be released today. However, that announcement has been pushed back until Tuesday, to allow lawmakers to focus on settling their differences on the economic stimulus package.
Corporate news this morning is light. Whirlpool, Hasbro, and NYSE Euronext all fell short of estimates. There is no economic data scheduled for today. The trade balance will be released Wednesday. The Commerce Department’s January retail sales report will be released Thursday, and the University of Michigan’s preliminary Consumer Sentiment for February is due Friday.
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