Market news
29.12.2010, 14:23

Before the bell: Stocks poised for slightly higher open

U.S. stocks were poised to nudge higher Wednesday, though trading is likely to remain quiet during the holiday week, as investors close their books for the year.
On Tuesday, stocks ended the day mixed as investors mulled a disappointing report on consumer confidence, and ongoing weakness in the housing market.
Overall stocks have climbed 6% in December, and are on track to post double-digit gains for the year.

Companies: Bank of America's (BAC, Fortune 500) stock rose 0.2% in premarket trading, after Allstate Corp. (ALL, Fortune 500) filed a lawsuit against the bank and its Countrywide Financial unit for more than $700 million in mortgage-backed securities that the insurance giant had purchased. The suit also named former Countrywide CEO Angelo Mozilo, who agreed to pay $67.5 million in fraud charges in October.
Economy: The U.S. government's weekly crude oil inventories report is due in the morning, though it is typically not a market mover.

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