U.S. stock futures pushed higher on Tuesday ahead of a pile of economic data and as Fed policymakers kicked off their two-day meeting today, with investors also considering geopolitical worries and corporate earnings from some heavy hitters that topped estimates.
Futures on the three major U.S. indexes were up between 0.2% and 0.3% as of 8:25am ET after finishing a mixed session on Monday.
Following Monday's disappointing report on pending home sales, the latest Case-Shiller Home Price Index is due out at 9:00am ET, while the Conference Board's July consumer confidence index is out at 10:00am ET, with consensus forecasts calling for a slight drop to 85 from June's 85.2 reading.
Overseas, the U.S. and Europe have put aside their differences and agreed to sharply escalate economic sanctions against Russia over Moscow's increased involvement in Ukraine, with the Obama administration also accusing Russia of conducting tests in violation of a 1987 nuclear missile treaty. The newest sanctions will be aimed at the finance, defense and energy sectors of Russia's economy.
Meanwhile, Israel's leaders said they were escalating the military campaign in Gaza, telling the country to prepare for a prolonged operation. Israel's Prime Minister Benjamin Netanyahu said the country would not finish its mission without neutralizing the tunnels "which have the sole purpose of annihilating our citizens and killing our children." There had been a brief lull in fighting beginning Sunday afternoon due to a Muslim holiday, but Netanyahu ordered a resumption of attacks after Hamas struck two military targets inside Israel on Monday.
In corporate activity, Merck (NYSE:MRK) shares rose 1.3% premarket after the drug giant topped analysts' expectations in terms of second quarter profit and sales.
Pfizer (NYSE:PFE) shares edged up after its second quarter profit sank 79%, but still topped forecasts.
Aetna (NYSE:AET) shares slid more than 1.6% even after its results surpassed estimates after the insurer reported record medical membership and revenue.
BP (NYSE:BP) reported second quarter net profit surged 65% year-over-year, boosted by high oil prices, but also warned that economic sanctions against Russia could impact its performance. Shares slid 1.7% before the opening bell on Tuesday.
UBS (NYSE:UBS) today posted a rise in its second quarter profit, as it booked a $280 million charge to help settle claims concerning German tax evaders.
Herbalife (NYSE:HLF) shares slid more than 12% premarket after reporting last night results that fell short of estimates on earnings and revenue, its first miss since 2008.
After the closing bell, investors will be watching Twitter (NYSE:TWTR), which is due to report quarterly results, and American Express (NYSE:AXP).
In other stock news, Darden Restaurants (NYSE:DRI) said its CEO Clarence Otis is stepping down, following efforts by major shareholder Starboard Value to implement changes at the restaurant operator.
Chinese regulators are investigating Microsoft (NASDAQ:MSFT) over anti-monopoly concerns, saying the firm has not fully disclosed information about its Windows operating system and Office software.
McDonald's (NYSE:MCD) Japanese unit has withdrawn its earnings guidance for the year, saying it's working on a contingency plan after a major meat supplier in China was shut down by regulators for food safety concerns.
Euroopean markets were higher today, with shares in France leading the region, while Asian markets also finished in the green. In commodities, September crude fell 54 cents to $101.13 a barrel while Comex gold for December delivery rose $4.40 to $1,310.20 an ounce. Reported by Proactive Investors 3 hours ago.
Futures on the three major U.S. indexes were up between 0.2% and 0.3% as of 8:25am ET after finishing a mixed session on Monday.
Following Monday's disappointing report on pending home sales, the latest Case-Shiller Home Price Index is due out at 9:00am ET, while the Conference Board's July consumer confidence index is out at 10:00am ET, with consensus forecasts calling for a slight drop to 85 from June's 85.2 reading.
Overseas, the U.S. and Europe have put aside their differences and agreed to sharply escalate economic sanctions against Russia over Moscow's increased involvement in Ukraine, with the Obama administration also accusing Russia of conducting tests in violation of a 1987 nuclear missile treaty. The newest sanctions will be aimed at the finance, defense and energy sectors of Russia's economy.
Meanwhile, Israel's leaders said they were escalating the military campaign in Gaza, telling the country to prepare for a prolonged operation. Israel's Prime Minister Benjamin Netanyahu said the country would not finish its mission without neutralizing the tunnels "which have the sole purpose of annihilating our citizens and killing our children." There had been a brief lull in fighting beginning Sunday afternoon due to a Muslim holiday, but Netanyahu ordered a resumption of attacks after Hamas struck two military targets inside Israel on Monday.
In corporate activity, Merck (NYSE:MRK) shares rose 1.3% premarket after the drug giant topped analysts' expectations in terms of second quarter profit and sales.
Pfizer (NYSE:PFE) shares edged up after its second quarter profit sank 79%, but still topped forecasts.
Aetna (NYSE:AET) shares slid more than 1.6% even after its results surpassed estimates after the insurer reported record medical membership and revenue.
BP (NYSE:BP) reported second quarter net profit surged 65% year-over-year, boosted by high oil prices, but also warned that economic sanctions against Russia could impact its performance. Shares slid 1.7% before the opening bell on Tuesday.
UBS (NYSE:UBS) today posted a rise in its second quarter profit, as it booked a $280 million charge to help settle claims concerning German tax evaders.
Herbalife (NYSE:HLF) shares slid more than 12% premarket after reporting last night results that fell short of estimates on earnings and revenue, its first miss since 2008.
After the closing bell, investors will be watching Twitter (NYSE:TWTR), which is due to report quarterly results, and American Express (NYSE:AXP).
In other stock news, Darden Restaurants (NYSE:DRI) said its CEO Clarence Otis is stepping down, following efforts by major shareholder Starboard Value to implement changes at the restaurant operator.
Chinese regulators are investigating Microsoft (NASDAQ:MSFT) over anti-monopoly concerns, saying the firm has not fully disclosed information about its Windows operating system and Office software.
McDonald's (NYSE:MCD) Japanese unit has withdrawn its earnings guidance for the year, saying it's working on a contingency plan after a major meat supplier in China was shut down by regulators for food safety concerns.
Euroopean markets were higher today, with shares in France leading the region, while Asian markets also finished in the green. In commodities, September crude fell 54 cents to $101.13 a barrel while Comex gold for December delivery rose $4.40 to $1,310.20 an ounce. Reported by Proactive Investors 3 hours ago.