Investing.com - U.S. stock futures pointed to a mixed open on Tuesday, as markets were jittery ahead of the release of U.S. data later in the day, after a disappointing manufacturing report on Monday.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.09% loss, S&P 500 futures signaled a 0.10% fall, while the Nasdaq 100 futures indicated a 0.04% gain.
Stocks found support on Monday after data showed that activity in the U.S. manufacturing sector contracted for the first time in six months in May.
The Institute for Supply Management said its index of purchasing managers fell to 49.0, the lowest level since June 2009 and below the 50 level that separates contraction from growth.
The weak data dampened expectations that the Federal Reserve will start to unwind its USD85 billion-a-month asset purchase program later this year.
Tech stocks were expected to be active, amid reports Microsoft Chief Executive Officer Steve Ballmer is planning a reorganization aimed at reducing the number of business units and putting more focus on devices and services.
The news sent shares in the company up 0.59% in pre-market trade.
Insurance companies were also likely to be in focus, after American International Group, Prudential Financial and a unit of General Electric were identified by U.S. regulators as potential risks to the financial system, taking an additional step toward putting the firms under tighter government scrutiny.
Elsewhere, FedEx, which is currently in the midst of a USD1.7 billion restructuring, was reportedly planning to accelerate plans to park 86 fuel-guzzling older aircraft to further reduce operating costs.
Also in company news, Elan Corp. won an order from a U.S. judge temporarily blocking Royalty Pharma from attempting a USD6.4 billion hostile takeover of the Irish drugmaker after Elan sued to halt what it called a “coercive” tender offer.
Among media-related stocks, News Corp.’s Fox Broadcasting was said to be asking a federal appeals court to overrule a district judge and halt Dish Network's AutoHop ad-skipping service that it says threatens television’s advertising system.
Other stocks in focus included Dollar General, due to report first-quarter earnings before the U.S. open.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.61%, France’s CAC 40 advanced 0.55%, Germany's DAX gained 0.51%, while Britain's FTSE 100 rose 0.64%.
During the Asian trading session, Hong Kong's Hang Seng Index inched 0.01% higher, while Japan’s Nikkei 225 Index surged 2.05%.
Later in the day, the U.S. was to produce a report on the trade balance.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.09% loss, S&P 500 futures signaled a 0.10% fall, while the Nasdaq 100 futures indicated a 0.04% gain.
Stocks found support on Monday after data showed that activity in the U.S. manufacturing sector contracted for the first time in six months in May.
The Institute for Supply Management said its index of purchasing managers fell to 49.0, the lowest level since June 2009 and below the 50 level that separates contraction from growth.
The weak data dampened expectations that the Federal Reserve will start to unwind its USD85 billion-a-month asset purchase program later this year.
Tech stocks were expected to be active, amid reports Microsoft Chief Executive Officer Steve Ballmer is planning a reorganization aimed at reducing the number of business units and putting more focus on devices and services.
The news sent shares in the company up 0.59% in pre-market trade.
Insurance companies were also likely to be in focus, after American International Group, Prudential Financial and a unit of General Electric were identified by U.S. regulators as potential risks to the financial system, taking an additional step toward putting the firms under tighter government scrutiny.
Elsewhere, FedEx, which is currently in the midst of a USD1.7 billion restructuring, was reportedly planning to accelerate plans to park 86 fuel-guzzling older aircraft to further reduce operating costs.
Also in company news, Elan Corp. won an order from a U.S. judge temporarily blocking Royalty Pharma from attempting a USD6.4 billion hostile takeover of the Irish drugmaker after Elan sued to halt what it called a “coercive” tender offer.
Among media-related stocks, News Corp.’s Fox Broadcasting was said to be asking a federal appeals court to overrule a district judge and halt Dish Network's AutoHop ad-skipping service that it says threatens television’s advertising system.
Other stocks in focus included Dollar General, due to report first-quarter earnings before the U.S. open.
Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.61%, France’s CAC 40 advanced 0.55%, Germany's DAX gained 0.51%, while Britain's FTSE 100 rose 0.64%.
During the Asian trading session, Hong Kong's Hang Seng Index inched 0.01% higher, while Japan’s Nikkei 225 Index surged 2.05%.
Later in the day, the U.S. was to produce a report on the trade balance.