The major stock indexes rallied yesterday, with the Dow, Nasdaq and S&P 500 all gaining more than 1%. This morning, the futures market indicates a lower start to trading.
The Commerce Department is expected to show factory orders fell in March because of a drop in commercial aircraft. Excluding the volatile transportation sector, economists say orders likely rose by 2.8%, which would be the biggest gain since December 2007. Separately, the National Association of Realtors’ pending home sales index likely climbed from the previous month. Both reports are due out at 10:00 am ET.
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