Stocks poised higher ahead of new home sales data
Tuesday August 26, 6:57 am ET
By Stevenson Jacobs, AP Business Writer
Wall Street heads for higher open ahead of reports on new home sales data, consumer sentiment
NEW YORK (AP) -- Wall Street headed for a higher open Tuesday, a day after a big pullback, as investors awaited key readings on new home sales and consumer confidence.
Investors expect the Commerce Department report to show new home sales dropped again in July, falling nearly 1 percent to a seasonally adjusted annual rate of 525,000 from June's 530,000, according to analysts surveyed by Thomson/IFR. That would be the eighth decline in the past nine months. The report is due at 10 a.m. EDT.