Investing.com – U.S. stock futures pointed to a higher open on Tuesday, as fears over a possible Greek default eased ahead of a critical confidence vote in the Greek parliament later in the day.
Dow Jones Industrial Average futures pointed to a gain of 0.45%, the S&P 500 futures advanced 0.55%, while Nasdaq 100 futures rose 0.5%.
Markets awaited the outcome of a parliamentary vote of confidence in Greek Prime Minister George Papandreou’s newly appointed cabinet later in the day.
Shares in the financial sector advanced in pre-market trade, tracking their European counterparts higher. Bank of America saw shares climb 1.1%, JP Morgan rose 1%, while U.S.-listed shares of National Bank of Greece advanced 1.25%.
Oil major British Petroleum saw shares climb 2.8% after it agreed to settle any potential claims with equipment maker Weatherford International over the Deepwater Horizon disaster in return for a payment of USD75 million. Weatherford shares were up 1.9% ahead of the open.
Shares in Finnish mobile phone maker Nokia jumped 2.1% after it unveiled its new N9 smartphone and announced plans to launch its first device based on Microsoft’s Windows Phone software later this year.
Pharmaceutical firm Biogen Idec advanced 2.35% after Deutsche Bank upgraded the stock to ‘buy’ and raised its price target by 24%, calling it, “the biotech stock with the largest opportunity for upside”.
On the downside, pharmacy benefits manager Express Scripts saw shares slump 2.8% after drug-store chain Walgreen announced that it would not renew a business deal between the two companies past 2011. Walgreen shares dropped 3.3%.
Separately, Walgreen reported third quarter profit of USD603 million, 30% higher than a year earlier. Quarterly sales rose to USD18.37 billion, broadly in line with market expectations.
Elsewhere, Boeing shares could be active after Norwegian Air Shuttle placed a USD1.2 billion order for 15 Boeing 737 jets at the 2011 International Paris Air Show.
Other stocks in focus included bookstore chain Barnes & Noble, software developer Adobe Systems and cruise line operator Carnival, which were all slated to release earnings reports later in the day.
Across the Atlantic, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.25%, France’s CAC 40 rose 1.3%, Germany's DAX climbed 1%, while Britain's FTSE 100 advanced 0.95%.
During the Asian trading session, Japan’s Nikkei 225 index gained 1.1%, while Hong Kong’s Hang Seng index rose 1.15%.
Later in the day, the U.S. was to publish data on existing home sales, while the Federal Reserve is to begin its two-day policy setting meeting.
Dow Jones Industrial Average futures pointed to a gain of 0.45%, the S&P 500 futures advanced 0.55%, while Nasdaq 100 futures rose 0.5%.
Markets awaited the outcome of a parliamentary vote of confidence in Greek Prime Minister George Papandreou’s newly appointed cabinet later in the day.
Shares in the financial sector advanced in pre-market trade, tracking their European counterparts higher. Bank of America saw shares climb 1.1%, JP Morgan rose 1%, while U.S.-listed shares of National Bank of Greece advanced 1.25%.
Oil major British Petroleum saw shares climb 2.8% after it agreed to settle any potential claims with equipment maker Weatherford International over the Deepwater Horizon disaster in return for a payment of USD75 million. Weatherford shares were up 1.9% ahead of the open.
Shares in Finnish mobile phone maker Nokia jumped 2.1% after it unveiled its new N9 smartphone and announced plans to launch its first device based on Microsoft’s Windows Phone software later this year.
Pharmaceutical firm Biogen Idec advanced 2.35% after Deutsche Bank upgraded the stock to ‘buy’ and raised its price target by 24%, calling it, “the biotech stock with the largest opportunity for upside”.
On the downside, pharmacy benefits manager Express Scripts saw shares slump 2.8% after drug-store chain Walgreen announced that it would not renew a business deal between the two companies past 2011. Walgreen shares dropped 3.3%.
Separately, Walgreen reported third quarter profit of USD603 million, 30% higher than a year earlier. Quarterly sales rose to USD18.37 billion, broadly in line with market expectations.
Elsewhere, Boeing shares could be active after Norwegian Air Shuttle placed a USD1.2 billion order for 15 Boeing 737 jets at the 2011 International Paris Air Show.
Other stocks in focus included bookstore chain Barnes & Noble, software developer Adobe Systems and cruise line operator Carnival, which were all slated to release earnings reports later in the day.
Across the Atlantic, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.25%, France’s CAC 40 rose 1.3%, Germany's DAX climbed 1%, while Britain's FTSE 100 advanced 0.95%.
During the Asian trading session, Japan’s Nikkei 225 index gained 1.1%, while Hong Kong’s Hang Seng index rose 1.15%.
Later in the day, the U.S. was to publish data on existing home sales, while the Federal Reserve is to begin its two-day policy setting meeting.