RTTNews - US stocks were poised for a mediocre open Tuesday morning in New York as traders prepared to take profits after a stellar performances in the previous few sessions.
As of 6:15 am ET, the S&P Futures were up a point, the NASDAQ Futures were unchanged , and the Dow Futures were down 11 points.
On Monday, the major averages all finished firmly in positive territory, with the Nasdaq and S&P 500 closing at their best levels of the year. The Dow ended the session up more than 220 points, at its best closing level since early January.
Tuesday morning, traders will be presented with forward-looking industry data from the housing sector. The National Association of Realtors will reveal its pending home sales figures for the month of April, with the pending home sales expected to edge up by 0.5 percent.
Trading could also be impacted by the release of reports on May auto sales from the major automakers, especially given the backdrop of General Motors' bankruptcy filing.
Financial service provider JPMorgan Chase & Co. (JPM) Monday said it plans to raise around $5 billion in common equity as part of its effort to repay $25 billion of the capital it received from the federal bailout fund.
JPMorgan was one among the 19 banks that recently undergo the federal Stress test for proving their ability to navigate through deeper economic slump. JPMorgan chase was in the group of the nine that does not required new capital raised.
American Express Co. (AXP) said Monday that it has commenced a public offering of $500 million of its common stock.
Barclays plc said Monday that Abu Dhabi government-owned International Petroleum Investment Co. or IPIC has announced its intention to dispose of 1.3 billion Barclays shares
A day after GM filed for bankruptcy, reports surfaced indicated the fallen auto giant General Motors is expected to announce the sale of its Hummer brand Tuesday.
Asian stocks were mixed overnight, with Tokyo shares staying at an 8-month high and the Hang Seng of Hong Kong dropped more than 2 percent. European shares were modestly lower.
Markets will keep an eye on gold, which is nearing the critical $1000 a barrel mark. The besieged dollar remained under pressure versus the euro Tuesday morning, but was stable against the yen.
For comments and feedback: contact email@example.com