Futures on major U.S. stock indices point to a higher opening on Tuesday ahead of economic reports on home prices and consumer confidence.
Futures on the S&P 500 are up 0.12 percent, futures on the Dow Jones Industrial Average are up 0.14 percent and Nasdaq100 futures are up 0.35 percent.
Investor will focus on Conference Board consumer confidence index and S&P/CaseShiller house price index for the latest signs of how the US economy is performing.
S&P/CaseShiller house price index for the month of July will be released before market opens.
The Conference Board will release its consumer confidence index for the month of September after market opens. Economists are forecasting that confidence may decline to 52.90 from 53.50 of previous month.
Walgreen’s fourth-quarter earnings rose to $470 million or $0.49 per share, from $436 million or $0.44 per share a year earlier. Revenue rose to $16.9 billion from $15.7 billion.
On Monday, US stocks ended lower despite a flurry of deals, as traders paused for breath after four straight weeks of gains.
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Before market opens:
• European stock markets pared earlier losses and are currently trading with FTSE 100 trading down by 13.92 points, DAX30 up by 12.18 points and CAC 40 up by 5.07 points.
• On the economic front, Britain's economy grew 1.2 percent in the second quarter of 2010, the fastest quarterly rise in nine years, and revised higher the first quarter GDP growth to 0.4 percent from 0.3 percent.
• Falling unemployment and moderate consumer prices have boosted German consumer sentiment in September to a three-year high. The index recorded a higher-than expected 4.9 point reading for October, following an upwardly revised 4.3 points for September.
• French consumer spending witnessed a fall in August as households reduced expenditure in the wake of the government’s plan to cut budget deficit.
• Moody's may be close to downgrading Spain's debt by two notches from its current AAA rating as the deadline for a three-month review expires this week. S&P and Fitch already downgraded Spain’s rating to AA.
• The euro advanced 0.07 percent to 1.3463 against the dollar and the yen gained 0.22 percent against the greenback.
• Crude oil futures fell 0.69 percent to $75.99/barrel and gold futures declined 0.71 percent.
During Asian market hours:
• Asian stock markets declined on Tuesday as concerns over the health of the European banking system returned after Moody's downgraded unguaranteed senior debt of Anglo Irish Bank by three notches on Monday.
• Japan's benchmark Nikkei 225 stock average declined 1.12 percent, Chinese Shanghai declined 0.63 percent and Hong Kong’s Hang Seng fell 1.03 percent.
