U.S. Stocks Futures Point to Higher Start

U.S. stock futures gained on Tuesday with market participants eyeing monthly durable goods order and housing data.

At last check, futures on Dow Jones Industrial Average Index added 0.19%; those on NASDAQ 100 Index gained 0.39% while futures on S&P 500 Index advanced 0.23%

On Monday, all leading benchmark indexes in the U.S. ended lower after the initial euphoria arising due to last-minute Cypriot bailout deal faded later during the day.  The Dutch finance minister, Jeroen Dijsselbloem, hinted that Cyprus bailout, which demands hefty penalty on uninsured bank deposits, could act as precedent for future financial rescues in the euro zone, denting the sentiment.

On U.S. economic data front, the Commerce Department will release its data on durable goods orders for the month of February at 8:30 a.m. EST.

Later, at 9:00 a.m. EST, The S&P/Case-Shiller home price Index, a gauge on 20 cities’ home prices,  for January is due at 9 a.m. Eastern. Economists are expecting a rise of 0.9%.

A data on new home sales for February is expected to release at 10 a.m. EST. Economists polled by Reuters are expecting 420,000 annualized units, compared to 437,000 units sold in January.

Also at 10:00 a.m. , Thomson Reuters/ University of Michigan’s consumer sentiment index is scheduled for a release.

Shares of drive-in restaurant chain Sonic Corp. (NASDAQ: SONC) will be under spotlight. Shares rallied in aftermarket hours on Monday after the company reported better-than-expected earnings. Revenue however fell slightly short of Street’s estimate.

On earnings front, Mattress Firm Holding Corp. (NASDAQ: MFRM) is due to report fiscal fourth quarter results.

Asian equities ended mixed while European equities traded mainly higher, at last check.

 

edliston

edliston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

You may also like...