It looks like markets could be gearing up to bounce back Tuesday after a disappointing start to the week.
U.S. stock futures were edging slightly higher Tuesday, with both the S&P 500 and the Dow Jones industrial average in positive territory. The Nasdaq was up by roughly 0.2%.
U.S. investors will receive a variety of economic and corporate news Tuesday as they await this week’s statement from the U.S. Federal Reserve and Friday’s jobs report.
The S&P Case-Shiller index, which measures home prices in 20 major markets, will be released at 9 a.m. ET. And at 10 a.m., the Conference Board will release its monthly reading on consumer confidence.
With earnings season in full swing, several companies will release quarterly results Tuesday, with Goodyear Tire and Aetna reporting ahead of the opening bell.
Sprint reported a loss for the quarter as it shut down its Nextel network and moved millions of subscribers to its Sprint platform. The loss comes even as the company boosted sales.
Shares in BP are slipping in London trading after its quarterly results missed market expectations. The company reported a drop in earnings due, in part, to lower oil prices and higher taxes. The oil company is also expecting to pay more in U.S. settlements related to the massive Gulf of Mexico oil spill in 2010.
Barclays shares were down by roughly 5% in London after the bank revealed it will be raising $8.9 billion in a rights issue to meet capital requirements set out by regulators.
On Monday, all three indexes fell as investors reduced exposure to stocks ahead of this week’s Fed meeting.
European markets were trading higher on Tuesday morning, even as banking shares were under pressure. Meanwhile, Asian markets bounced back from Monday’s losses, with all major indexes closing with gains.
