Stock futures briefly perked up on the .6% rise in April durable goods orders and the revision higher for March orders. Capital goods orders were up more than 1% last month.
U.S. weekly jobless claims were up 15,000 to 311,000, the first weekly rise in six. Existing home sales are due at 10 and I think we get a better idea of the bulls can save the day after those numbers are out.
There are already some decent headwinds:
GM gets SEC request, details Delphi exposure.
Toll Brothers profit tumbles.
A warning from Komag (KOMG): Komag Updates Second Quarter 2007 Business Outlook
Following the comments of Greenspan and the likelihood of a Chinese market crash, the Chinese market slipped about a half-percent overnight.
The great climate change debate is hitting the board rooms: Investors push Exxon board member on climate .
Interesting little write up on iPhones and whether pre-paids will be available: CNET: Prepaid iPhones? We'll see about that.
On the Dow Jones (DJ) battle front, Citi's Smith Barney has an interesting report out. The analyst there lifted DJ's target to $55 from 37, but maintains a hold. The report says there's a 65% chance Murdoch lifts his offer to $65 and that it's accepted. Citi thinks there's a 35% Newscorp (NWS) is rejected and no chance someone walks in with a competing bid.
I continue to watch the Alcan (AL) situation closely: Alcan up on report of talks. I may comment further later today.