Before the Bell

Wall Street is continuing its march toward Dow 13,000, and with stock futures pointing up on overall pleasure with this earnings season, it just might get there today.

There are, however, some potential roadblocks in the form of - you guessed it - economic data. Durable goods figures are coming shortly, and new home sales numbers are due soon after the opening bell.

Mortgage applications were up last week as lower loan rates encouraged home purchases and refinancings, an industry trade group reports. U.S. Treasuries are down slightly.

The dollar has fallen against various currencies after yesterday's soft housing and economic data refueled expectations of an interest-rate cut this year.

London Brent crude is up toward $68 a barrel ahead of weekly data that traders expect will show the 11th straight drop in U.S. gasoline inventories. Earnings reports are piling in.

PepsiCo and defense contractor Raytheon reported higher-than-expected profits. Boeing's results also beat Wall Street estimates, but its shares have dipped as the plane maker's outlook proved somewhat disappointing.

The ABN AMRO saga continues as a trio of banks led by Royal Bank of Scotland offers $98 billion for the Dutch bank, which just days ago accepted a bid from Britain's Barclays.
Lisa Von Ahn - Editor