Stock futures were flat on Tuesday as a weaker U.S. dollar helped lift commodity prices and Johnson & Johnson's
Johnson & Johnson, the world's largest healthcare company by market value, posted a higher-than-expected profit and raised its full-year earnings outlook, but its sales came in lower than Wall Street's consensus. The shares slipped 1 percent before the bell after an initial bounce.
Crude oil and metal prices rose as the dollar slipped 0.4 percent against a basket of major currencies, helping shares in miners and energy companies. Newmont Mining Corp
Rick Meckler, president of LibertyView Capital Management in Jersey City, said he expected more large companies to beat forecasts.
Analysts have become fairly conservative after being burned by the last selloff, so I'd be surprised to see most of the big companies not beat numbers, said Meckler.
S&P 500 futures fell 1 point and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 9 points, and Nasdaq futures rose 2.25 points.
(Editing by Padraic Cassidy)