The S&P 500 index is now showing a gain for 2009 after yesterday’s 3.4% rally. As of this writing, stocks appear set to start the session lower.
The financial sector will remain in focus as investors await the release of the results of the government’s stress tests on banks, which are due Thursday. It is being reported by the Wall Street Journal that at least 10 of the 19 banks under review, including Bank of America and Citigroup, may need to boost their capital.
Yesterday’s pending home sales and construction spending reports were better than expected. The only major economic data scheduled today is the ISM Non-Manufacturing Report. Ben Bernanke is also due to give his outlook on the economy to the Joint Economic Committee.
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