Tuesday March 25, 01:03 PM
US pre-open: Stocks to post modest gains
LONDON (ShareCast) - US stocks are seen moderately higher as investors await reports on consumer confidence and house prices. Stocks posted good gains on Monday after JP Morgan raised its offer for Bear Stearns (NYSE: BSC
- news) to $10 a share as it looks to fend off potential rival offers and appease current shareholders.Today, the Conference Board's survey on consumer confidence is due with economists forecasting the index will fall to 73.4 from a reading of 75 in February. Standard & Poor's/Case-Shiller index on home prices is also out. Across the markets, the Dow Jones (news) is expected to rise 25 points to 12,565 with the Nasdaq (NASDAQ: news) seen 9 points higher at 1828. The S&P 500 is due to start up 3 points. In company news, the merger between satellite radio companies Sirius and XM was approved by the Justice Department late Monday.
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