What happens today will be reflected in the early morning announcements before the bell.
· Orders to U.S. factories for durable goods likely took a tumble in August because of an expected sharp drop in demand for aircraft. Economists surveyed by Thomson Reuters expect total orders for durable goods to have dropped 1 percent in August. Still, they believe that orders excluding transportation rose 1 percent.
· Sales of new homes likely rose from record lows in August, but the housing market remains weak despite low mortgage rates and cheap prices.
As for Obama’s plan for $50 billion in financial loans to small businesses—well, “Ninety-one percent of small business owners surveyed in August by the National Federation of Independent Business (NFIB) said all their credit needs were met. Only 4 percent cited a lack of financing as their top business problem. “ So don’t expect it to have any affect. Markets should open higher today in anticipation of the two reports being better than last week.