Stocks: Earnings and housing data in focus

Written By limadu on Rabu, 17 Oktober 2012 | 17.42

Click chart for more premarket data.

NEW YORK (CNNMoney) -- U.S. stock futures were flat Wednesday as investors await new housing market data and more earnings results from the corporate world.

At 8:30 a.m. ET, the Census Bureau will release data on housing starts and building permits for September.

September housing starts are expected to come in at an annual rate of 768,000, according to a survey of analysts by Briefing.com. Building permits are expected to have been issued at an annual rate of 815,000.

Companies including Bank of America (BAC, Fortune 500), Abbott Laboratories (ABT, Fortune 500) and PepsiCo (PEP, Fortune 500) are set to report Wednesday morning, while American Express Co (AXP, Fortune 500) is up after the bell.

Bank of America is expected to post a loss of seven cents a share on $21.9 billion in revenue, according to a survey of analysts by Thomson Reuters.

U.S. stocks ended the day higher Tuesday, as investors welcomed strong corporate earnings and digested the latest inflation data.

After the market close Tuesday, Intel (INTC, Fortune 500) reported earnings that beat Wall Street's expectations, but fell from a year ago. Additionally, IBM (IBM, Fortune 500) posted earnings that topped forecasts by a penny, but revenue fell short of expectations.

In premarket trading Wednesday, shares of Intel fell more than 2% while IBM shares dropped more than 3%.

Fear & Greed Index

World Markets: European stocks were higher. Britain's FTSE 100 edged up 0.4%, the DAX in Germany rose 0.2% and France's CAC 40 added 0.3%. Meanwhile, Spanish bonds climbed after Moody's Investors Service affirmed Spain's investment grade credit rating.

Asian markets also closed higher. The Shanghai Composite gained 0.3%, the Hang Seng in Hong Kong climbed 1%, and Japan's Nikkei jumped 1.2%.

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Currencies and commodities: The dollar slipped against the euro, the British pound and the Japanese yen.

Oil for September delivery rose 13 cents to $92.22 a barrel.

Gold futures for December delivery gained $3 to $1,749.30 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury was unchanged from late Tuesday, with the yield holding at 1.72%. To top of page

First Published: October 17, 2012: 6:15 AM ET


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