Stock Futures Rise Ahead of Housing Data

Stock futures were pointing to a higher open Monday as investors await the latest read on the housing market.
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NEW YORK (

TheStreet

) -- Stock futures were pointing to a higher open Monday as investors awaited the latest read on the housing market.

Futures for the

Dow Jones Industrial Average

were up by 30 points at 10,568 and were 26 points above fair value. Futures for the

S&P 500

were higher by 4 points at 1123 and were 3 points above fair value, and

Nasdaq

futures were ahead by 7 points and were 6 points above fair value.

Stocks finished Friday's session with modest gains, helped by encouraging earnings from the tech sector.

At 10 a.m. EDT, the National Association of Home Builders will release its September housing market index. Economists are anticipating a reading of 14, after the prior month's level of 13, according to Briefing.com.

Shares of

Netezza

(NZ)

, a maker of data warehouse and monitoring appliances, were soaring 12.8% to $27.75 in the premarket session on news that

IBM

(IBM) - Get Report

plans to acquire the company for $1.7 billion. IBM's stock was slipping 0.2% to $129.88.

Homebuilder

Lennar

(LEN) - Get Report

swung to a third-quarter profit of 16 cents a share, exceeding the gains of 5 cents a share that analysts had been expecting, according to Briefing.com. Sales of $825 million also beat estimates. Shares were gaining 5.3% to $14.73 in early trading.

Clorox

(CLX) - Get Report

is nearing an agreement to sell its STP and Armor All car-care brands to private-equity firm Avista Capital Partners for $750 million to $800 million, according to

Bloomberg

. Clorox's stock was trading 0.5% higher to $67 ahead of the opening bell.

Verizon Communications

(VZ) - Get Report

will likely name Lowell McAdam as president and chief operating officer, putting him in line to succeed CEO Ivan Seidenberg, according to a

Wall Street Journal

report. The stock was ahead by 0.4% at $31.80.

In commodity markets, crude oil for November delivery was trading 10 cents lower at $74.82 a barrel, and the December gold contract was higher by $3, trading at $1,280.50 an ounce.

Meanwhile, the dollar was trading slightly higher against a basket of currencies, with the dollar index up by 0.08%.

The benchmark 10-year Treasury note rose 4/32, diluting the yield to 2.728%.

Overseas, Hong Kong's Hang Seng rose 0.03%, while Japanese markets were closed for a holiday. The FTSE in London was adding 1.1%, and the DAX in Frankfurt was ahead by 0.4%.

--Written by Melinda Peer in New York

.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.