US Stock Futures Point To Lower Open On Tuesday Ahead Of Job Openings, Consumer Credit Reports For March

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May 7, 2013 7:54 PM EST


U.S. stock index futures point to a slightly lower open on Tuesday, ahead of the Job Openings and Consumer Credit reports for March. Investors, also await another round of quarterly earnings reports by major corporations.

Futures on the Dow Jones Industrial Average were down 0.05 percent, futures on the Standard & Poor's 500 Index were down 0.11 percent and those on the Nasdaq 100 Index were down by 0.03 percent.

On the economic front, the Job Openings and Labor Turnover (JOLTS) index for March is released at 10 a.m. The index provides a comprehensive picture on the nation’s job market than the unemployment figures.

The consumer credit for March is being released at 3 p.m. Analysts forecast that it will drop to $16 billion, from $18.14 billion recorded in February.

Investors are likely to stay focussed on earnings reports on Tuesday, with DirecTV (Nasdaq: DTV), Emerson Electric Co. (NYSE:EMR), EOG Resources Inc. (NYSE: EOG), FirstEnergy Corp. (NYSE: FE), NRG Energy Inc (NYSE: NRG), The Walt Disney Company (NYSE: DIS), Electronic Arts Inc. (Nasdaq: EA), Mondelez International Inc. (Nasdaq: MDLZ), Marathon Oil Corp. (NYSE:MRO), Symantec Corporation (Nasdaq: SYMC), Cognizant Technology Solutions Corp. (NASDAQ:CTSH) and Groupon Inc. (Nasdaq: GRPN), among others expected to announce their quarterly results on Tuesday.

U.S. stock markets ended on a positive note on Monday as S&P 500 Index gained 0.19 percent to close at a new record high of 1,617.50. The Nasdaq Composite Index rose 0.42 percent to 3,392.97, while Dow Jones Industrial Average ended 0.03 percent down retreating from its record high last week.

European markets opened on a higher note on Tuesday as investors focus on earnings releases from some banking majors in Europe.

The London's FTSE 100 rose 0.3 percent, while France's CAC-40 was up 0.2 percent. Germany's DAX-30 gained 0.2 percent.

In Asia, the Nikkei stock average crossed the 14,000 level for the first time since June 2008. Opening after a public holiday, the market gained from robust job data from the U.S. Meanwhile, other Asian markets also posted gains on Tuesday buoyed by the strong U.S. jobs report, last week. 

Hong Kong's Hang Seng gained 0.58 percent to close at 23,047.09, while Chinese Shanghai Composite gained 0.20 percent to 2235.57 towards close.

South Korea's KOSPI lost 0.36 percent to 1954.35. India's BSE Sensex rose over 1 percent to 19,884.50.


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