Stock futures pointed to a higher open, as investors returned from a holiday weekend. U.S. markets were closed on Monday for President’s Day.
Earnings will again be in focus today. Kraft foods reported earnings that were slightly ahead of expectations and Merck matched analysts’ estimates. However, the economic calendar is light today. The Empire State Manufacturing Index, a measure of New York manufacturing activity, expanded at a faster pace in February. The index rose to 24.9 from 15.9 in January. At 1:00 pm ET, the National Association of Home Builders will issue its monthly sentiment index.
Tomorrow we will get data on housing starts and industrial production. On Thursday, the Producer Price Index, weekly jobless claims number, and the Index of Leading Indicators will be released. We end the week with the Consumer Price Index.
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