Premarket futures indicated a mixed open for stocks in New York Tuesday as a flurry of economic data hit the wires on day two of a holiday-shortened trading week.

Futures for the

S&P 500

were up 1.8 points at 873.1 and were 4.2 points above fair value.


futures were down 3 points at 1194 and were 1.55 points above fair value.

Stocks in New York closed lower Monday, as what little news there was tended to be on the bleak side.

Tuesday brought a cast of economic data. Real

gross domestic product

fell at an annual rate of 0.5% in the third quarter, the federal government said Tuesday, following a 2.8% increase in the second quarter.

The decline in GDP, a measure of the output of goods and services produced by labor and property located in the U.S., reflected negative contributions from personal consumption expenditures, residential fixed investment and equipment and software.

Some of the most watched figures, existing-home sales and new-homes sales for November, will come out at 10 a.m. EST. New-home sales are expected to fall to 415,000 from 433,000. Existing-home sales are expected to fall to 4.93 million from 4.98 million.

In other data Tuesday, the University of Michigan consumer sentiment index is expected to fall to 58.8 from 59.1.

Later in the week, mortgage application data, the

Washington Post


ABC News

consumer comfort index, personal income data and initial jobless claims, retail sales and durable goods data will be released.

Longer-dated U.S. Treasury securities were falling. The 10-year was off by 13.5/32 to yield 2.2%, and the 30-year was down 1 20/32, yielding 2.7%. The dollar was weaker against the euro, and stronger against the pound and yen.

In commodities, oil was rising 30 cents to $40.21 a barrel, while gold declined $4 to $843.20 an ounce.

Overseas, European exchanges such as the FTSE in London and the DAX in Frankfurt were edging up 0.8% apiece. In Asia, Japan's Nikkei ended higher, while Hong Kong's Hang Seng ended with losses.

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