Stocks headed higher ahead of economic news

[March 01, 2011]  NEW YORK (AP) -- Stocks are headed for a higher opening ahead of reports on auto sales, manufacturing and construction spending.

Automotive website Edmunds.com and J.D. Power and Associates predict that auto sales rose 20 percent in February from the same time last year.

Manufacturers, meanwhile, likely increased production at a slightly faster pace in February than in January, when output rose at the quickest rate since May 2004.

Yet economists expect more bad news in housing. Builders likely began work on fewer homes and projects in January, marking the third straight monthly decline in construction spending.

Ahead of the opening bell Tuesday, Dow Jones industrial average futures are up 25, or 0.2 percent, at 12,240. Standard & Poor's 500 index futures are up 4, or 0.3 percent, at 1,330. Nasdaq 100 index futures are up 8, or 0.3 percent, at 2,359.

[Associated Press; By CHIP CUTTER]

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.