U.S. stocks posted their biggest percentage gain in three months yesterday. Yesterday’s momentum has carried over to the futures market, which are also being supported by strength in overseas markets.
Retailers are reporting same-store sales for November. The overall results are coming in better than expected. Jobless claims, meanwhile, can in at a higher-than-expected 436,000 last week. This follows a lower-revised 410,000 in the previous week, which was the best reading of this recovery. The four-week moving average also improved to its best reading of the recovery at 431,000. After the opening bell, the National Association of Realtors will release its pending home sales index, which is a measure of sales contracts for existing homes. The index is expected to be unchanged in October after slipping 1.8% in September.
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