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- Before the bell: Stocks open with slight gain
Before the bell: Stocks open with slight gain
U.S. stocks were headed for slight gains early Friday, after a report on personal income and spending came in as expected.
Trading could be tight Friday, as investors are often reluctant to place big bets ahead of a long weekend. The stock market will be closed Monday for the Memorial Day holiday.
Economy: Personal incomes rose 0.4% in April, after rising at the same rate in March, the government said.
Spending by individuals in the month also rose 0.4%, down slightly from 0.5% the month before. Economists had forecast a 0.5% rise.
Shortly after the opening bell, the University of Michigan will put out its final reading on consumer sentiment in May. Economists expect the figure to remain unchanged at 72.4.
The National Association of Realtors is expected to report a 1.4% decline in pending home sales for the month of March.
Companies: Toyota (TM), Nissan (NSANY) and Honda (HON, Fortune 500) all reported sharp declines in sales and production during April, as the fallout from the March 11 earthquake and tsunami continue to take a toll on Japan's auto industry.
PayPal and its parent company eBay (EBAY, Fortune 500) are suing Google (GOOG, Fortune 500) for allegedly stealing trade secrets related to mobile payment technology.
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