Avatar Opens Strong

Avatar Opens Strong

8:50am (EST)

Futures are pointing to a higher opening this morning, following gains in overseas markets as Wall Street prepares for the upcoming week. Many expect trading will be light during the Christmas holiday-shortened week, but that can add to volatility. The market will be closed Friday.

We don’t have a lot of companies reporting earnings this week but there is plenty of economic data for the bulls and bears to fight over. On Tuesday, we get a look at the gross domestic product (GDP) numbers, which measures the total economic output of the country. Wall Street is predicting 3Q growth was unchanged at an annual rate of 2.8%.

We also get another look at new home sales and durable goods. Both reports are expected to show a rebound or a recovery.

We mentioned how the East Coast got buried in snow last night in the Weekly Wrap but that didn’t stop movie fans from heading to the theaters. Avatar did a whopping $73 million over the weekend in North America and world-wide, the movie took in over $230+ million. We talk more about Avatar and Imax (IMAX in the Members Area this morning.

As we head to press, Dow futures are up 45 points to 10,316 while the S&P 500 futures are higher by 8 to 1,106. The Nasdaq 100 futures are up 12, to 1,820.

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