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Merrill will hold a conference call at about 8 am and 30 minutes later the government reports the latest figures for groundbreaking on new homes. Economists predict that the pace of housing starts in December fell 5% to 1.13 million units.
Bernanke Speech Live
At 10 am, Federal Reserve Chairman Ben Bernanke speaks before the House Budget Committee about the U.S. economy, with investors keen to hear any clues about interest-rate cuts or support for a government economic stimulus package.
"All eyes today are going to be on Bernanke," said Matt Zeman, of LaSalle Futures. "Right now the market is looking for help, looking for the Fed to kind of come out and help with a monetary defibrillator."