Tuesday, November 23, 2010

Market Notes - November 23, 2010

U.S. stock futures trades lower amid military tension between North and South Korea.

The revised reading on U.S. economic growth showed the economy grew faster than expected in the third quarter. GDP was revised to an annualized rate of 2.5% from the initial reading of 2.0% as exports, consumer, and government spending were stronger than initially thought. Analysts were expecting the number to be revised to 2.4%.

The National Association of Realtors is scheduled to report October existing home sales at 10:00 am ET. Economists expect the report to show sales fell to an annual rate of 4.42 million last month, from 4.53 million in September. At 2:00 pm, the Federal Reserve is due to release the minutes from the last FOMC policy meeting.