Stock futures indicate rebound from recent sell-off
By Ryan Vlastelica | February 5, 2013 11:14 PM EST
Stock index futures advanced on Tuesday, indicating that Wall Street would rebound off its worst daily session since November.
* Major averages dropped about 1 percent on Monday, pressured by renewed worries over the euro zone's sovereign debt crisis. While the day's decline pushed the S&P 500 into negative territory for February, equities have been strong performers of late, and the benchmark index is up 4.9 percent for 2013.
* Wall Street has advanced on strong fourth-quarter earnings and signs of improved economic growth, suggesting the market's longer-term trend remains higher.
* Archer Daniels Midland , Walt Disney Co
* S&P 500 fourth-quarter earnings are expected to rise 4.4 percent, according to the data. That estimate is above the 1.9 percent forecast at the start of earnings season, but well below the 9.9 percent forecast on October 1.
* On Tuesday, S&P 500 futures rose 7.2 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 69 points and Nasdaq 100 futures rose 11.5 points.
* At current levels, the S&P is about 5.4 percent away from its all-time intraday high of 1,576.09, reached in October 2011.
* Investors will also be looking to the Institute for Supply Management's January non-manufacturing index, due at 10 a.m. Economists forecast a reading of 55.2, versus 55.7 in December.
* Last week, the ISM's manufacturing index for January showed the pace of growth in manufacturing picked up to its highest level in nine months.
* In company news, McGraw-Hill
* The stock plummeted almost 14 percent in Monday's session, its worst daily losses since the October 1987 market crash.
* Dell Inc
(Editing by W Simon)
Join the Conversation
- Walmart Early Price Matching Special Event On Nov. 21, 2014 Matches Its Competitors' Black Friday 2014 Prices And Includes Exclusive Deals For Samsung LED HDTVs And iPad Air 2 [WATCH VIDEO]
- US Plane Flying Over Russian Skies Spotted; Vladimir Putin Ready For 'Practical Cooperation' With US
- Black Friday 2014 Sale: Top Deals On Game Consoles Xbox One, PS4, Nintendo Wii U And More
- Walmart Pre-Black Friday 2014 Sale On Nov. 21, 2014 Includes Discounts On The 'NBA 2K15' For PS4 And The 'Skylanders Trap Team’ Starter Kit [WATCH VIDEO]
- Alleged 'Microsoft Lumia 1030' Front Panel Leaked With Capacitive Buttons; 'Xbox One' Owners To Get Free Goodies On Anniversary
- Nexus 6 Release Date And Price Under AT&T, T-Mobile And Sprint Listed
- More Bad News for Android 5.0 Lollipop As Problems Come In for Nexus and Other Devices