IE 11 is not supported. For an optimal experience visit our site on another browser.

Stocks set to rise ahead of housing report

Investors will get more information about the housing market later Monday when a report on pending house sales is released. It’s expected to show the number of Americans signing contracts to buy previously owned houses increased in February.

Monday’s report on pending home sales data for February comes in the wake of a raft of lower-than-expected macro data released last week. Economists in a Reuters survey expect a 1.0 percent rise compared with a 2.0 percent increase in January.

U.S. stock index futures pointed to a slightly higher open on Wall Street. European stocks edged higher in morning trade following a week-long sell-off, but rising concerns over Spain's ability to deal with its debt crisis weighed on the country's stocks.

In other market-moving news Monday, Yahoo has appointed three new independent directors as it prepares for a proxy fight with activist hedge fund investor Daniel Loeb.

Disagreement emerged on Sunday over the re-listing of an electronic stock exchange that suffered a high-profile crash last week, a breakdown that forced it to unwind its initial public offering of shares.

Reuters contributed to this report.