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Market News


European Markets

Opening calls are indicating a higher open this morning.

 

Asian Markets

The Nikkei average is trading flat in the current session.

US Markets

Stocks rose Tuesday, ending higher for a third day, as investors grew more optimistic about Europe’ debt crisis being resolved.

But the advance lost momentum in the final hour of trading after a report in the Financial Times raised questions about a proposed second bailout for Greece.

The Dow Jones industrial average rose 146 points, or 1.3%, to close at 11,190. The S&P 500 added 12 points, or 1%, to 1,175. The tech-heavy Nasdaq gained 30 points, or 1.2%, to 2,547.

Events this week

Wednesday: A government report on durable goods is expected before trading begins. Economists estimate that orders stayed the same in August, after rising 4% in the prior month. Excluding volatile transportation orders, durable good orders are expected to be up 0.2%.

Also in the morning, Family Dollar (FDO, Fortune 500) will report quarterly earnings.

A weekly report on crude inventories is also due.

Thursday: The third and final reading on second-quarter economic growth is due before the start of trading. Economists expect that gross domestic product, the broadest measure of the nation’ economic activity, grew at an annual rate of 1.2% in the three months ended in June, up from the previous reading of a 1% rise.

Also on tap before the opening bell: the Labor Department will put out its weekly jobless claims numbers. Economists are looking for claims to 420,000 in the latest week.

Later in the morning, a report from the National Association of Realtors is expected to show pending home sales down 1.3% in July.

Friday: A government report on personal income and spending is due before the opening bell. Economists expect income to have stayed the same in August after rising 0.3% in the previous month. Spending is forecast to have increased 0.2% last month, following an 0.8% increase in July.

The Chicago PMI, a regional reading on manufacturing activity, will be released after the bell. The measure is expected to have moved to 54.0 in September from 56.5 in August.

The University of Michigan’ final reading on consumer sentiment in September is due shortly after the market opens. It’ expected to come in at 57.6 down slightly from the last reading 57.8.