Stocks have gained more than 20% in less than three weeks and the NASDAQ entered into positive territory year to date. This morning, investors appear set to take some profits as futures point to a lower start.
There is not a lot of market moving news today. The focus in Washington will be on the White House where President Obama is scheduled to meet with bank CEOs to discuss the administrations efforts for stabilizing, and reforming, the U.S. financial system.
On the economic front, personal spending rose for a second straight month, climbing 0.2% in February after January’s revised 1.0% increase. Personal income, meanwhile, slipped 0.2%, slightly more than the 0.1% expected. After the open, investors will look to the University of Michigan's reading on consumer sentiment released at 10:00 ET.
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