U.S. stocks are poised to start lower again today as investors worry about the results of the government’s stress test of banks and the swine flu outbreak.
Results of the government’s bank stress tests are due to be released next week, but as expected, the details are starting to leak. The Wall Street Journal reports that Bank of America and Citigroup have been told they need to raise billions of dollars of new capital. Both companies’ shares traded lower in premarket trading.
Separately, earnings results are not gathering much attention so far, but more than 150 companies plan to report this week. Drugmakers Pfizer and Bristol-Myers Squibb reported this morning. Pfizer’s profits dropped, but they still topped earnings estimates while Bristol-Myers reported a rise in earnings in-line with expectations.
Today's economic data includes the S&P/CaseShiller Home Price Index at 09:00 ET and the Conference Board's Consumer Confidence report at 10:00 ET
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