Stocks set for lower open after housing, inflation data

U.S. stocks are poised for a slightly higher open Wednesday morning after setting new 13-month highs Tuesday. Investors await key economic data this morning, including consumer prices and housing starts. As traders may step back this morning to assess the recent rally, the same trends that pushed markets higher on Tuesday remain: the dollar has dropped and commodities soared, driving mining stocks higher in overseas markets.

[Update 8:30 a.m.: October housing starts were down 30% from last year, the weakest they have been since April. The CPI rose 0.3% in October on higher energy, car prices. At first glance, these figures seem likely to affect the mood negatively. 8:35 a.m.: Stock market futures are declining, indicating a lower start.]

More here: Before the bell: Futures edge higher ahead of data
Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.