Stock futures traded slightly lower ahead of the open, but were off their lows after Bank of America and General Electric posted earnings results. Their results follow the trend that has taken hold throughout the week, topping earnings forecasts.
U.S. housing starts rose more than expected in March. The Commerce Department said housing starts rose 1.6% to a seasonally adjusted annual rate of 626,000 units. February’s numbers were also revised higher to show a 1.1% increase, which was previously reported as a 5.9% drop. New building permits jumped 7.5% to a 685,000-unit pace last month.
A report on consumer sentiment comes out shortly after the opening bell. The University of Michigan Consumer Sentiment Index for early April is expected to rise to 75 from 73.6.
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