1:30pm (EST)
Futures were pointing towards a higher open on Wall Street this morning as the bulls got a bevy of good economic news ahead of the bell and shortly afterwards.
Durable Goods came in at 3.6% versus expectations for a 3.3% print while the Housing sector got a lift after the Case-Shiller numbers came in ahead of expectations, up 2.5% versus an expected 1.1% rise. The Richmond Fed figures also came in better than expected.
The good news has helped the bulls push resistance that served as prior support so while the data has been decent the back test has been penciled-in. The more important point with today’s “rally” as the talking heads are calling it, is will it fade or will the bulls reclaim support. The final hour could be full of fireworks and it will be interesting to see if if the bears attack back or if they rollover.
The Dow is up 75 points to 14,735 while the S&P 500 is higher by 10 points to 1,583. The Nasdaq is up 15 points to 3,336.
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