Home Sales: Tomorrow's Headliners
NEW YORK (
) -- Existing home sales data for February will be in focus Tuesday, as economists are forecasting yet another a dip in activity.
The National Association of Realtors is expected to say that existing home sales slipped to 5 million homes from 5.05 million in January when it releases its report at 10 a.m. EDT. That would mark the third straight month of declines from November's read of 6.49 million, when the first time homebuyers tax credit had initially been set to expire before being extended to April.
At the same time, the Federal Housing Finance Agency will release its home price index for January, which is expected to slide 0.9% after a 1.6% decline in December.
Health care reform will still be on the minds of investors as President Obama will sign the legislation approved by the House of Representatives into law Tuesday. Meanwhile, the Senate is expected Tuesday to take up the reconciliation bill that includes changes to the legislation, with Democrats looking for quick passage.
Elsewhere on Capitol Hill, the Senate Commerce Committee will hold a hearing on the proposed national broadband plan.
On the earnings front,
Carnival
(CCL) - Get Report
,
KB Home
(KBH) - Get Report
and
Walgreens
(WAG)
are among a small list of companies set to report quarterly results before the start of trading Tuesday.
After the trading session ends,
Adobe Systems
(ADBE) - Get Report
,
Darden Restaurants
(DRI) - Get Report
and
Jabil Circuit
(JBL) - Get Report
will open their books on the previous quarter.
-- Written by Robert Holmes in Boston
.
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