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US Futures Edge Up Ahead of Latest Housing Data

 Traders work on the floor of the New York Stock Exchange
(Photo by Allison Joyce/Getty Images)

NEW YORK (AP) – Futures are edging higher ahead of a pair of reports that are expected to provide more hope for the beleaguered U.S. housing industry.

Dow Jones industrial futures are up 23 points to 13,522. The broader S&P futures have added 1.9 points to 1,454.80. Nasdaq futures are up 5.25 points to 2,855.25.

Economists expect the Commerce Department to report that builders started construction on more homes and apartments in August, providing yet more evidence of a sustained recovery. And later Wednesday, the National Association of Realtors reports on existing home sales. Economists are looking for more promising news there as well.

Builders pulled back on new homes in July, but that was overlooked because of the surprisingly large number of building permits sought, the most since August 2008.

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Copyright 2012 by The Associated Press. All rights reserved. Material may not be redistributed.

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