Wall Street Poised to Make a Comeback at the Opening Bell

Stocks are poised to make a comeback Wednesday after three losing sessions. Traders are waiting for fresh economic data on the housing markets due out at 10am eastern. Mortgage applications for the week ending September 19, dropped 4.1%. The Mortgage Bankers Association reported borrowing costs rising led home refinancing to decline 7%. Fraudulent transactions are now surfacing in the wake of Home Depot’s (HD) large data breach. The Wall Street Journal is reporting banks are seeing attempts by hackers to use credit and debit card information. The activity is being seen across the country and in some cases hackers are draining cash from customer bank accounts. Walmart (WMT) wants to be your bank. Walmart will offer low-cost checking accounts to customers over 18. The world’s largest retailer is partnering with prepaid cards issuer Green Dot and will begin the service called GoBank next month. Before the bell, Paychex (PAYX) reported its Q1 earnings beat analysts’ estimates by a penny. The provider of payroll and human resources for small-to-medium-sized businesses posted revenues of $666.8 million, up from last year’s Q1 revenues of $613.1 million.