U.S. stock index futures were lower on Tuesday ahead of the release of minutes from the U.S. Federal Reserve. S&P 500 futures fell 2.7 points and were below fair value. Dow Jones industrial average futures gave up 12 points. Nasdaq 100 futures shed 4 points.
On Monday, a round of upbeat economic reports fueled stock gains, with most major indexes hitting their highest levels since September 2008. The NYSE composite and S&P 500 climbed 0.8% each, while the Dow rose 0.4%. All three touched their best levels since Sept. 29, 2008. The Nasdaq climbed 1.1%.
The Federal Reserve will release minutes from its March 16 meeting, during which the Federal Open Market Committee reiterated its intention to keep interest rates at historic lows for an "extended period." The Federal Open Market Committee will issue the minutes at around 2 p.m. EDT.
No. 1 U.S. coal miner Peabody Energy (BTU) raised its offer for Australia's Macarthur Coal to $3.27 billion, thought that offer is at a discount to Macarthur's last trading price on the Australian exchange.
Elsewhere, the yield on the benchmark 10-year Treasury note fell to 3.95% early Tuesday from 3.99% late Monday. On Monday the 10-year yield climbed above 4% for the first time since June. It is nearing levels not seen since October 2008.
The dollar rose against other major currencies early Tuesday. Gold and oil both declined.
Overseas, Japan's Nikkei 225 stock average fell 0.5%, while Hong Kong's Hang Seng added 1.4%. In afternoon trading, Britain's FTSE 100 climbed 0.59%, Germany's DAX index gained 0.25% and France's CAC-40 advanced 0.46%.
