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- Before the bell: Stocks head for modest rebound
Before the bell: Stocks head for modest rebound
U.S. stocks were headed for modest gains Tuesday, looking to recoup losses after eurozone debt jitters sparked a global sell-off in the previous session.
Economy: Traders will be looking for government data on April new home sales, due shortly after the opening bell.
Economists expect the report to show new homes slugged along at prior month's levels, with 300,000 units being sold in April. The housing market remains weak, even though a few recent indicators have started to suggest a gradual recovery.
Companies: Shares of doughnut maker Krispy Kreme (KKD) continued to gain Tuesday, rising 2% in premarket trading. On Monday, Krispy Kreme shares surged more than 20%, after the company posted better-than-expected earnings.
Shares of entertainment products maker Sony (SNE) rebounded, ticking up more than 4% before the opening bell. Shares slipped nearly 4% in the previous session following disappointing quarterly results due to the earthquake and tsunami in Japan.
Commodities: Oil for July delivery gained $1.20, or more than 1%, to $98.90 a barrel.
Gold futures for June delivery rose $6 to $1,521.40 an ounce.
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