Futures on major U.S. indices point to a higher opening on Tuesday ahead of a slew of corporate earnings and Federal Reserve’s two day meeting.
Futures on the S&P 500 are up 0.43 percent, futures on the Dow Jones Industrial Average are up 0.26 percent and Nasdaq-100 futures are up 0.37 percent.
Investors are likely to focus on the two-day meeting of the Fed which kicks off today and earnings from major firms including Amazon.com, Ford Motor Co, FMC Technologies and United Parcel Service.
Federal Reserve Chairman Ben Bernanke will hold a press conference on Wednesday after the Fed’s policy announcement. The key issue is likely to be inflation.
Netflix, Inc. (NASDAQ:NFLX) stock fell 5.27 percent to $238.40 in the after-market trading, as it guided second quarter earnings below Street view. The company expects second quarter earnings of $50 million to $62 million or $0.93 to $1.15 a share.
On the earnings front, Ford Motor, AK Steel Holding Corp, Coach Inc, United Parcel Service and Hershey are due to report their quarterly earnings before the markets open, while Altera Corp, Amazon.com, Broadcom Corp and C H Robinson Worldwide will report their quarterly earnings after the closing bell.
On the economic front, reports on CB Consumer confidence, monthly house price index and Richmond Manufacturing Index will be released after the markets open.
US stocks ended mixed on Monday as inflation concerns weighed after Kimberly-Clark warned of earnings pressure from commodity prices.
The euro advanced 0.25 percent to 1.4619 against the dollar and the yen gained 0.15 percent against the greenback.
Crude oil futures declined 0.08 percent to $112.19/barrel and gold futures declined 0.24 percent.
European stock markets are currently trading higher with FTSE 100 up by 23.45 points, DAX30 up by 31.04 points and CAC 40 up by 14.52 points.