Investing.com - U.S. stock futures pointed to a steady open on Tuesday, as markets awaited the release of U.S. economic reports later in the day, as well as the outcome of the Federal Reserve's policy meeting on Wednesday.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.04% dip, S&P 500 futures signaled a 0.13% fall, while the Nasdaq 100 futures indicated a 0.06% loss.
Sentiment found some support after Italy’s new government was sworn in over the weekend, ending two months of political uncertainty, with Prime Minister Enrico Letta pledging to lower taxes in order to spur growth.
Investors were also eyeing an upcoming European Central Bank policy meeting later in the week, amid speculation over an interest rate cut after weak German economic data last week.
Recent comments by ECB officials have indicated that the bank would consider cutting rates if economic data continued to deteriorate.
Energy linked stocks were expected to be active, after oil giant BP announced a sharp rise in first-quarter earnings, with the sale of its Russian venture TNK-BP offsetting a fall in oil and gas production.
The news sent shares in the company up 3.52% in pre-market trade.
Herbalife was also likely to be in focus, after the nutrition company at the center of a battle between hedge-fund managers Bill Ackman and Carl Icahn, raised its 2013 earnings forecast as first-quarter profit topped analysts’ estimates, sending shares up 0.28% after hours.
Among airline companies, Bloomberg reported that US Airways and AMR Corp.’s American Airlines are negotiating with banks including Barclays and Citigroup to provide a branded credit card once they complete a merger creating the world’s largest carrier.
Elsewhere in company news, Time Warner Cable said it hired former AOL CEO Arthur Minson as chief financial officer, replacing Irene Esteves, who is departing.
Other stocks in focus included pharmaceutical giant Pfizer, scheduled to post earnings later in the day.
Across the Atlantic, European stock markets were mixed to lower. The EURO STOXX 50 dipped 0.03%, France’s CAC 40 slipped 0.18%, Germany's DAX climbed 0.64%, while Britain's FTSE 100 edged down 0.14%.
During the Asian trading session, Hong Kong's Hang Seng Index gained 0.69%, while Japan’s Nikkei 225 Index slipped 0.17%.
Later in the day, the U.S. was to release data on consumer confidence, a report on manufacturing activity in Chicago and private sector data on house price inflation.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.04% dip, S&P 500 futures signaled a 0.13% fall, while the Nasdaq 100 futures indicated a 0.06% loss.
Sentiment found some support after Italy’s new government was sworn in over the weekend, ending two months of political uncertainty, with Prime Minister Enrico Letta pledging to lower taxes in order to spur growth.
Investors were also eyeing an upcoming European Central Bank policy meeting later in the week, amid speculation over an interest rate cut after weak German economic data last week.
Recent comments by ECB officials have indicated that the bank would consider cutting rates if economic data continued to deteriorate.
Energy linked stocks were expected to be active, after oil giant BP announced a sharp rise in first-quarter earnings, with the sale of its Russian venture TNK-BP offsetting a fall in oil and gas production.
The news sent shares in the company up 3.52% in pre-market trade.
Herbalife was also likely to be in focus, after the nutrition company at the center of a battle between hedge-fund managers Bill Ackman and Carl Icahn, raised its 2013 earnings forecast as first-quarter profit topped analysts’ estimates, sending shares up 0.28% after hours.
Among airline companies, Bloomberg reported that US Airways and AMR Corp.’s American Airlines are negotiating with banks including Barclays and Citigroup to provide a branded credit card once they complete a merger creating the world’s largest carrier.
Elsewhere in company news, Time Warner Cable said it hired former AOL CEO Arthur Minson as chief financial officer, replacing Irene Esteves, who is departing.
Other stocks in focus included pharmaceutical giant Pfizer, scheduled to post earnings later in the day.
Across the Atlantic, European stock markets were mixed to lower. The EURO STOXX 50 dipped 0.03%, France’s CAC 40 slipped 0.18%, Germany's DAX climbed 0.64%, while Britain's FTSE 100 edged down 0.14%.
During the Asian trading session, Hong Kong's Hang Seng Index gained 0.69%, while Japan’s Nikkei 225 Index slipped 0.17%.
Later in the day, the U.S. was to release data on consumer confidence, a report on manufacturing activity in Chicago and private sector data on house price inflation.