Bond yields have been rising and that has investors worried that could upset the recovery in the housing market lead through higher mortgage rates. Shares of homebuilders were hit hard yesterday, and stocks dropped for a fourth consecutive session on Wall Street. The Dow dropped nearly 71 to 15,010. The S&P 500 fell about 10 points to 1,646. And the Nasdaq edged down 13 points to 3,589. Based on futures trading, Wall Street appears headed for a lower opening today.
- International stock markets slid today as investors, particularly those investing in up-and-coming markets, braced for the possible phase out of a U.S. central bank stimulus program that has boosted stock prices worldwide. Benchmark crude oil fell below $106 per barrel. The dollar fell against the euro and the yen.
- TiVo is out today with a new line of digital video recorders to give television viewers more control over what they watch on traditional channels and over the Internet. The fifth-generation DVRs from the company that pioneered the devices include the ability record up to six channels at once. Besides built-in streaming, there's built-in Wi-Fi support to negate the need for TiVo's $90 adapter.
- With college costs continuing to rise, more students are receiving federal financial aid, though state and institutional aid remains largely flat. Data released today by the National Center for Education Statistics, a branch of the U.S. Department of Education, shows 71 percent of all undergraduate students received some type of financial aid in the 2011-12 school year, up from 66 percent four years earlier.
- No major economic data is expected today, but a number of retailers report quarterly financial results. Barnes & Noble, Best Buy, Home Depot and J.C. Penney are all scheduled to release earnings figures before the market opens this morning.