Investing.com - U.S. stock futures pointed to a higher open on Tuesday, after the European Central Bank reported stronger-than-expected demand for a highly anticipated refinancing operation.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.30%, S&P 500 futures signaled a 0.20% increase, while the Nasdaq 100 futures indicated a 0.21% gain.
The ECB offered EUR489.2 billion in an auction of three-year loans, much higher than estimated, with a total of 523 bidders, in an attempt to avert a liquidity crunch in the euro zone.
The amount allotted was the largest ever for a longer-term refinancing operation by the ECB and indicated that lenders believe funding problems are likely to persist into 2012.
Paychex declined 1.62% in pre-market trade after posting higher-than-expected quarterly profit and said it continues to see a slow economic recovery with respect to sales from new clients.
Also in earnings, contract manufacturer Jabil Circuit was up 5.22% although posting quarterly revenue below analysts' estimates and announcing lower revenue in the second quarter from its high-velocity segment which services digital products.
Elsewhere, Siemens was up 2.62% on reports it plans to cut as many as 1,200 jobs from its Healthcare workforce worldwide due to slowing growth in its diagnostics business.
Shares in Vulcan Materials rose 0.45% as German group HeidelbergCement was considering making an offer for parts of the company, if they were put up for sale after a potential takeover by Martin Marietta Materials.
Other stocks in focus included Oracle after it posted lower-than-expected earnings for the first time in a decade Tuesday after the bell, as software and hardware sales declined, sparking fears that a global recession will hurt tech spending.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 jumped 0.25%, France’s CAC 40 climbed 0.25%, Germany's DAX advanced 0.22%, while Britain's FTSE 100 rose 0.07%.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.4%, while Japan’s Nikkei 225 Index gained 1.5%.
Later in the day, the U.S. was to produce industry data on existing home sales.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.30%, S&P 500 futures signaled a 0.20% increase, while the Nasdaq 100 futures indicated a 0.21% gain.
The ECB offered EUR489.2 billion in an auction of three-year loans, much higher than estimated, with a total of 523 bidders, in an attempt to avert a liquidity crunch in the euro zone.
The amount allotted was the largest ever for a longer-term refinancing operation by the ECB and indicated that lenders believe funding problems are likely to persist into 2012.
Paychex declined 1.62% in pre-market trade after posting higher-than-expected quarterly profit and said it continues to see a slow economic recovery with respect to sales from new clients.
Also in earnings, contract manufacturer Jabil Circuit was up 5.22% although posting quarterly revenue below analysts' estimates and announcing lower revenue in the second quarter from its high-velocity segment which services digital products.
Elsewhere, Siemens was up 2.62% on reports it plans to cut as many as 1,200 jobs from its Healthcare workforce worldwide due to slowing growth in its diagnostics business.
Shares in Vulcan Materials rose 0.45% as German group HeidelbergCement was considering making an offer for parts of the company, if they were put up for sale after a potential takeover by Martin Marietta Materials.
Other stocks in focus included Oracle after it posted lower-than-expected earnings for the first time in a decade Tuesday after the bell, as software and hardware sales declined, sparking fears that a global recession will hurt tech spending.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 jumped 0.25%, France’s CAC 40 climbed 0.25%, Germany's DAX advanced 0.22%, while Britain's FTSE 100 rose 0.07%.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.4%, while Japan’s Nikkei 225 Index gained 1.5%.
Later in the day, the U.S. was to produce industry data on existing home sales.