Futures heading higher ahead of housing data
- Associated Press
- December 20, 2012 - 6:55 AM
NEW YORK - Stock futures are heading higher in advance of more housing data that most economists expect will paint an improving picture.
Dow Jones industrial futures are up 9 points to 13,228. The broader S&P futures have added 1.1 points to 1,434.20. Nasdaq futures are up 5.5 points to 2,698.50.
National Association of Realtors releases its monthly report on previously occupied homes. Economists predict it will show that sales are hitting levels not seen in more than 2 1/2 years.
Homebuilders have been posting some impressive numbers, and KB Home became the latest to do so Thursday.
The Los Angeles builder easily beat Wall Street expectations. Potential future housing revenue in backlog climbed 35 percent. That signifies the company's best fourth quarter since 2007, when the housing crisis was beginning to unfold.
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