Despite the Dow Jones Industrial Average's
Dow stocks look set to open higher, with futures trading up 0.6%. Markets gained in both Europe and Asia overnight, despite 10-year Spanish bond rates rising to 6.5%. Consumer confidence across the pond seemed to be increasing as well, as British retail sales reached their highest level in 13 months. In Spain, however, retail sales fell 9.8% -- its 22nd straight monthly drop -- as the Iberian country struggles with a recession. Market-watchers also appear to be hopeful of increased Chinese economic stimulus.
In other news, JPMorgan Chase
Finally, one more economic report to watch for comes out today at 9 a.m. EDT: the Case-Shiller 20-City Index. The report covers housing prices in some of the nation's 20 biggest metro areas and has a two-month lag. The market expects a 2.8% loss after February's drop of 3.5%. Housing starts in April came in well ahead of expectations, so signs could be pointing to a turnaround in the housing market.
Keep your eye on the ball
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Fool contributor Jeremy Bowman holds no positions in the companies in this article. The Motley Fool owns shares of JPMorgan Chase. Motley Fool newsletter services have recommended creating a diagonal call position in Wal-Mart Stores. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.