Stocks appeared set to extend yesterday’s gains, with index futures pointing to a modest gain. Earnings optimism and reduced anxiety over Greek debt has boosted sentiment.
The economic calendar is busy today. Mortgage applications dipped last week, even as interest rates held near record low levels below 5%. Meanwhile, housing starts rebounded more strongly than expected, to their highest level in six months.
Industrial production is expected to have improved in January. That number comes out just before the bell at 9:15 am ET. At 2:00 pm, the Federal Reserve will release the minutes from the most recent Federal Open Market Committee meeting, with investors looking for any insight on the Fed’s exit strategy.
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