April 17, 2012- Market Sentiment Rises on Improved German Economic Report

Sentiment on Wall Street seems to have improved on Tuesday after yesterday's mixed performance. The positive mood is likely to be sustained, as Spain raised debt above its maximum planned target and a German economic sentiment data unexpectedly improved. Nevertheless, the Spanish borrowing costs nearly doubled. The U.S. housing starts and the industrial production report, both due for release before the markets open, and the earnings deluge may give further direction to the markets. As of 6:30 am ET, the Dow futures are rising 45 points and the S&P 500 futures are adding 6.10 points, while the Nasdaq 100 futures are moving up 8.50 points. U.S. stocks scrambled to a mixed close on Monday amid the release of mixed economic data. On the economic front, a report on housing starts and building permits is slated to be released at 8:30 am ET. Economists estimate housing starts for March to come in at 700,000 each, while building permits are expected to have declined to 713,000. In February, housing starts and building permits came in at 698,000 and 717,000, respectively.