US Stock Futures Point To Lower Open On Tuesday Ahead Of Job Openings, Consumer Credit Reports For March

 
on May 07 2013 5:54 AM

U.S. stock index futures point to a slightly lower open on Tuesday ahead of the Job Openings and Labor Turnover Summary and Consumer Credit reports for March. Investors are also awaiting another week of quarterly earnings reports by major corporations.

Futures on the Dow Jones Industrial Average were down 0.05 percent, futures on the Standard & Poor's 500 Index were down 0.11 percent and those on the Nasdaq 100 Index were down by 0.03 percent.

On the economic front, the Fed's Job Openings and Labor Turnover (JOLTS) index for March will be released at 10 a.m ET. The index provides a more comprehensive picture of the nation’s job market than unemployment figures.

The Federal Reserve's Consumer Credit report for March will be released at 3 p.m ET. A median forecast from a Bloomberg survey pegged the rise in consumer credit to drop to $15.6 billion in March against an increase of $18.14 billion reported in February.

Investors are also likely to stay focused on earnings reports with DirecTV (Nasdaq: DTV), Emerson Electric Co. (NYSE:EMR), EOG Resources Inc. (NYSE: EOG), FirstEnergy Corp. (NYSE: FE), NRG Energy Inc (NYSE: NRG), The Walt Disney Company (NYSE: DIS), Electronic Arts Inc. (Nasdaq: EA), Mondelez International Inc. (Nasdaq: MDLZ), Marathon Oil Corp. (NYSE:MRO), Symantec Corp. (Nasdaq: SYMC), Cognizant Technology Solutions Corp. (NASDAQ:CTSH) and Groupon Inc. (Nasdaq: GRPN), among others expected to announce their quarterly results on Tuesday.

U.S. stock markets ended on a positive note on Monday as the S&P 500 Index gained 0.19 percent to close at a new record high of 1,617.50. The Nasdaq Composite Index rose 0.42 percent to 3,392.97, while the Dow Jones Industrial Average ended 0.03 percent down, retreating from its record high last week.

European markets opened on a higher note on Tuesday as investors focused on earnings releases from some of the big banks in Europe.

London's FTSE 100 rose 0.3 percent, while France's CAC-40 was up 0.2 percent. Germany's DAX-30 gained 0.2 percent.

In Asia, the Nikkei stock average crossed the 14,000 level for the first time since June 2008. Opening after a public holiday, the market rose on robust job data from the U.S. Meanwhile, other Asian markets also posted gains on Tuesday buoyed by last week's strong U.S. jobs report.

Hong Kong's Hang Seng gained 0.58 percent to close at 23,047.09, while the Chinese Shanghai Composite gained 0.20 percent to 2235.57 toward close.

South Korea's KOSPI fell 0.36 percent to 1954.35. India's BSE Sensex rose more than 1 percent to 19,884.50.

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