A stronger-than-expected report on existing home sales Monday helped push stocks to a 6-month high. We will get more housing data today at 9:00 am ET when the S&P Case-Shiller Home Price Index is released. The index tracks monthly changes in the value of residential real estate in 20 metropolitan regions across the U.S. The consensus calls for a 2% rise, after the previous month’s 3.2% gain. In a separate report at 10:00 am, the Conference Board will release its reading on consumer confidence. The index is expected to have risen to 49, from 48.5 in September.
Results form the next batch of corporate earnings could also shift market sentiment. Bristol-Myers’ profits slipped, but still topped expectations, while Ford and DuPont easily beat expectations. There will be many more companies reporting this week.
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