U.S. stocks were poised to open little changed as investors braced for a barrage of economic reports.
First up is the revision of the third-quarter GDP. The Commerce Department said the economy grew at a 2.8% annual rate, rather than the 3.5% pace it estimated last month. Though lower than first anticipated, it is still the fastest pace since the third quarter of 2007 and the first positive reading in the previous four quarters.
At 9 am New York time, the S&P/Case-Shiller Home Price Index is out, with economists forecasting a year over year drop of 9.3% in September for the 20-city index. In August, that index had fallen 11.3%. At 10 am ET time, the Conference Board issues its monthly Consumer Confidence Index, with the consensus forecasts calling for a reading of 47.5 for November, down slightly from October's 47.7. At 2 pm, the Federal Reserve releases the minutes of the most recent FOMC meeting.
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