Wall Street futures signal gains for stocks

By @ibtimes on

Stock index futures pointed to a higher open for Wall Street on Tuesday, adding to gains from the previous session, with futures for the S&P 500, for the Dow Jones and for the Nasdaq up 0.1-0.2 percent by 1007 GMT.

Merger activity drove the Dow and S&P to 2-1/2 year highs on Monday, in a sign more gains could be in store for equities.

Corporate earnings will once again dictate near-term direction, with Walt Disney and Sara Lee among those scheduled to release results.

Exchange group NYSE Euronext reported a smaller-than-expected 21 percent fall in quarterly profit, reflecting weaker trading activity amid growing competition.

UBS said it expected to win back more client business in 2011 and had laid the foundations for a rebound in its investment bank.

Intel resumed shipments of a flawed chipset for use with its new cutting-edge processors, responding to demands from PC makers who will use the chips selectively.

On the economic front, U.S. consumer credit surged in December as shoppers boosted their credit-card debt for the first time in more than two years, supporting views economic activity was gathering momentum.

U.S. Federal Reserve Chairman Ben Bernanke is to deliver semi-annual monetary policy testimony to Congress on March 1 and 2, aides said on Monday.

European shares were lower in early trade, in a broad sell-off from the previous session's 29-month closing high.

(Reporting by Harpreet Bhal; Editing by Dan Lalor)

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