Stocks appeared set to open modestly higher following yesterday’s decline. The economic calendar is light again today, with October wholesale inventories being the only statistic of note. Economists are looking for a drop of 0.7% when the number is released at 10:00 am ET. September saw a decrease if 0.9%.
In an earlier report, the Mortgage Bankers Association said applications for home loans rose 8% last week, driven mostly by refinancing. This was the highest level in two months. The only other report is the Energy Information Administration’s weekly reading on oil and gasoline inventories at 10:30 am ET.
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