The current indication from the futures market points to a higher start for stocks this week. There is positive support coming from reports that the government might boost its stake in Citigroup to as much as 40% by converting its preferred shares into common stock.
Fourth quarter earnings reporting season is winding down and retailers will be in focus this week. The Gap, Kohl’s, Macy’s, Nordstrom, Saks, Sears, and Target are among those scheduled to report.
The economic calendar is on the light side, but features the Case-Shiller Home Price Index and Consumer Confidence report on Tuesday. Existing home sales data will be released Wednesday, while new home sales, durable goods orders, and initial jobless claims data is set for Thursday. We wrap up the week with the revised fourth quarter GDP report on Friday.
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