Futures extend gains after strong housing data

|By:, SA News Editor

Stock futures climb to premarket highs after a stronger than expected jump in July housing starts; Dow +0.4%, S&P and Nasdaq +0.3%.

Major European and Asian markets are broadly higher.

Housing starts jumped 15.7% in July to 1.093M from an upwardly revised 945K (from 893K) in June, with an 8.3% increase in single-family construction after the levels declined in both May and June after reaching ~650K in April.

Some retailers have reported earnings since yesterday's close, led by Home Depot, +4% premarket after beating earnings estimates and boosting its guidance for the year.

Treasury prices are higher, with the yield on the benchmark 10-year note down 3 bps at 2.36%.