NEW YORK, Aug 4 (Reuters) - U.S. stock futures fell on Tuesday as caution prevailed ahead of reports on June personal income data and pending home sales, a day after Wall Street rallied to a fresh nine-month closing high.
Investors are looking for more definitive clues about the economic recovery prospects after a spate of corporate earnings helped spur hopes that the recession is abating.
But some profit-taking was likely to set in, as in European markets, where bank stocks weighed following a solid run-up over the past few weeks after UBS AG (UBS.N: Quote, Profile, Research)UBSN.VS, a major bank, reported a large second-quarter loss. For details, see [ID:nL3704235]
"The market is obviously pausing for a profit-taking after yesterday's surge. A pullback at this point may be welcome," said Peter Cardillo, chief market economist at Avalon Partners in New York.
"One trend we haven't seen is a growth in consumer spending, and therefore, personal income and personal spending data will be what shapes today's market."
