Equities Extend Gains Before Housing, Manufacturing Data

by devteam January 5th, 2010 | Share

The decade started off well yesterday with all three US markets soaring by more than 1.50% yesterday. This morning the futures market looks to extend those gains ahead of the pending home sales index, even though investors believe the survey will show some cooling.

Two hours before the open, Dow Futures are 6 points higher at 10,525 after rising 156 points yesterday. The benchmark S&P 500 Futures is up a modest 0.25 points to 1129.00, extending the 17.89-point gain yesterday.

Meanwhile, commodity prices and the dollar are pretty flat. WTI Crude is slightly higher at $81.55 per barrel and Spot Gold is up 12 cents to $1121.32 per ounce. 

Yesterday, the key ISM manufacturing index jumped to a 44-month high of 55.9. All five major components moved upwards including a 5.2-point jump in the new orders index to 65.5 â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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