Stocks headed for a flat opening as investors returned from the holiday shortened week.
While there are no major economic reports due today, there will be plenty of influential reports throughout the week. Tomorrow, the S&P Case-Shiller home price index is expected to show a 1% rise after the previous months’ 1.7% gain. The November reading of the Chicago PMI, a regional manufacturing index, is expected to decrease, but still reflect expansion in the region. The Conference Board will release its November reading on consumer confidence, which is expected to have edged higher.
Wednesday will be busy with reports on motor vehicle sales, mortgage applications, private sector jobs, productivity and costs, construction spending, and manufacturing. The weekly jobless claims number and the pending home sales index are due Thursday. The closely watched employment situation report for November is due on Friday. The consensus for new jobs added ranges from 100,000 to 200,000. Also due are reports on factory orders and non-manufacturing activity.
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