Stocks Open Higher as Dollar Retreats - Market Overview * US * News * Story

LATEST STOCK MARKET DATA

Hot & Cold Sectors
Tracking the major movements across the best & worst performing industry sector indexes.
Dow Components
Top Gainers & Losers
Major Indexes & Stocks to Watch

MORE HEADLINES

Markets | Economy | Companies

- US Job Losses to Bottom out Next Quarter: NABE

LATEST FROM OUR BLOGS

- Don't Dwell on Investment Mistakes; Move on, Like Buffett

FEATURED SLIDESHOWS

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Fashion Show.
The Richest Members of the US Congress
Recently, the Center for Responsive Politics found that there are 237 millionaires in the US Congress.
10 Tips to Get Out of Debt
Renowned financial author Gail Vaz-Oxlade takes a tough-love approach to helping couples in a financial crisis to face reality.

FEATURED QUIZZES

How Much Do You Know About Green?
Green has become part of our everyday lives. Green is everywhere-- energy, clothing, food, housing, transportation. It's a big business and a global business.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?
The Many Myths of Coca-Cola
Can you tell which statements are true, and which ones are just rumors?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

Stocks Open Higher as Dollar Retreats

Published: Tuesday, 27 Oct 2009 | 9:33 AM ET

Text Size

By: CNBC.com

Stocks opened slightly higher Tuesday after encouraging reports on housing and earnings and as the dollar retreated.

Major U.S. Indexes

.DJIA

.NCOMP

.SPX

The S&P/Case-Shiller home-price index rose for a fourth straight month, beating expectations.

The dollar pulled back as traders booked profits from Monday's gains, which spurred the selloff in stocks.

On Monday, the Dow posted its first back-to-back triple-digit drops since June as the markets were impacted by a rising dollar, falling commodity prices, and other factors.

Banks including Bank of America [BAC Loading... () ] and JPMorgan [JPM Loading... () ] led that selloff, along with commodities stocks including Alcoa [AA Loading... () ]. Both sectors rebounded this morning.

Energy stocks including ExxonMobil [XOM Loading... () ] and Chevron [CVX Loading... () ] advanced as oil ticked higher with the dollar's retreat. Both of those companies are set to report earnings later this week.

In today's earnings news, TD Ameritrade and US Steel were among companies reporting earnings that beat analyst expectations.

US Steel posted a loss of $2.11 a share that was considerably less than the $2.87 that analysts expected. TD Ameritrade posted a $0.26 profit on record organic growth.

Energy giant BP also contributed to the move higher, posting a profit drop of 34 percent that beat analyst estimates, driven by aggressive cost-cutting.

Companies Reporting Earnings:

At 10 am New York time, the Conference Board is out with its monthly Consumer Confidence Index, with consensus forecasts looking for a reading of 53.2 for October, compared to the September reading of 53.1.

The government continues its record week of auctions with the sale of $44 billion in 2-year notes, with the results available shortly after 1 pm New York time. On Wednesday will see the sale of $41 billion in 5-year notes, followed by $31 billion in 7-year notes on Thursday.

Some encouraging news from the auto sector, as Honda nearly triples its yearly profit forecast.

- Peter Schacknow contributed to this article.

This Week:

TUESDAY: Case-Shiller home-price index; Conference Board consumer confidence; Ruth Madoff hearing; Earnings from BP, Visa and US Steel
WEDNESDAY: Weekly mortgage applications; durable-goods orders; new-home sales; weekly crude inventories; executive-compensation hearing; Earnings from ConocoPhillips, GlaxoSmithKline and General Dynamics
THURSDAY: 80th anniversary of 1929 market crash; Weekly jobless claims; first look at Q3 GDP; Larry Summers speaks in NYC; Earnings from AstraZeneca, ExxonMobil, P&G, Aetna, Kellogg, Motorola and Sprint Nextel
FRIDAY: Personal income and spending; consumer sentiment; Earnings from Chevron

Send comments to .