US Stock Futures Up Ahead of November Housing Starts Data


0  Updated at 6:01 am, December 20th, 2011 By: ABC Digital
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Mario Tama/Getty Images(NEW YORK) — Wall Street is looking to reverse its losses on Tuesday, with stock futures up ahead of the opening bell, as investors await the latest housebuilding report from the government.

The day before, the stock market suffered losses across the board; The Dow Jones Industrial Average fell 100 points on Monday, while the Nasdaq lost 32 and the S&P 500 dropped 14.

Economists expect housing starts in November to have increased between 600,000 to 655,000, according to a Bloomberg survey.  The Commerce Department will release its report Tuesday at 8:30 a.m. ET.

Overseas, European stocks are trading mostly higher on Tuesday, thanks its part to a postive business-sentiment survey out of Germany.

In Asia, some stocks made small rebounds on Tuesday after tumbling in the previous session amid the announcement of North Korean leader Kim Jong Il’s death.  South Korea’s Kospi climbed 0.91 percent, Japan’s Nikkei index rose 0.49 percent, Taiwan’s Taiex added 0.44 percent, and Hong Kong’s Hang Seng inched up 0.06 percent.

Australia’s S&P/ASX 200, however, slipped 0.18 percent, while China’s Shanghai Composite shed 0.10 percent.

Copyright 2011 ABC News Radio

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