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)
Most Popular Slideshows
Join the Conversation
- Nokia Lumia 730 v. Sharp Aquos Crystal – Specifications, Features And Price Showdown
- Apple iPhone 6 Plus vs Motorola Droid Turbo: Comparsion On Processor, Software And Battery
- Australia Special Forces Await 'Delayed' Iraqi Visas Before Joining ISIS Fight
- ISIS Has Been Equipped With Advanced Anti-Aircraft Missiles
- Samsung Galaxy Note 4 vs Motorola Droid Turbo – S-Pen Is Note’s 4 USP But Droid Turbo Can Outshine With Larger Battery
- 8 Important Things to Consider Before Buying or Upgrading to iPad Air 2
- Canada’s Official ISIS Mission Starts On Weekend; Kuwait Uneasy