Existing home sales are the main economic data point of the day, but the United States is also currently in the midst of earnings season with several major firms reporting results on Monday.
At 10 a.m. EST, the National Association of Realtors will release existing home sales for December, which economists expect to decline to 4.40 million from 4.49 million in November. This will mark a 2.0% month-over-month contraction following an 8.6% decline the month prior. Markets will also pay attention to the median house price, which was $181.3k in November.
Also at 10 a.m. EST, the Conference Board will release its leading economic index for the United States in December, which economists expect to contract 0.2% month-over-month following a 0.4% contraction previously.
At 10:30 a.m. EST, the Texas Federal Reserve will release its manufacturing index for January. In the previous month, the index fell 61.0%.
At 11:30 a.m. EST, the U.S. Treasury will sell $29 billion in three-month and $28 billion in six-month Treasury bills.
At 1 p.m. EST, the U.S. Treasury will auction $8 billion in 20-year inflation-linked bonds.
At 2:30 p.m. EST, Bundesbank President Axel Weber will speak at an event in Dusseldorf, Germany.
Ahead of the opening bell, Caterpillar Inc. is expected to report earnings per share of $1.31 while McDonald's is expected to report Q4 earnings of $0.83.
American Express is slated to report earnings after the closing bell with the street looking for an earnings per share of $0.22.
U.S. Treasury Secretary Nominee Tim Geithner is slated to be confirmed sometime this week with an announcement possible for today.
Monday's Events:
10:00 US Leading Indicators December Exp: -0.2% Prior: -0.4%
10:00 US Existing Home Sales December Exp: +4.40M Prior: +4.49M
10:00 US Existing Home Sales (M/M) December Exp: -2.0% Prior: -8.6%
10:30 US Dallas Fed Manufacturing Activity January Prior: -60.6%
11:30 US Treasury to Sell $29B 3-Month Bills
11:30 US Treasury to Sell $28B 6-Month Bills
13:00 US Treasury to Sell $8B 20-Year TIPS
14:30 DE German central bank President Axel Weber Speaking in Dusseldorf, Germany
By Erik Kevin Franco and edited by Nancy Girgis
©CEP News Ltd. 2009