US STOCKS-Futures higher as gold rebounds; earnings, data on tap

Tue Apr 16, 2013 7:27am EDT

* Gold prices rebound after selloff

* Earnings due from 3 Dow components

* CPI, housing starts data on tap

* Futures up: Dow 65 pts, S&P 7.4 pts, Nasdaq 15.75 pts

By Chuck Mikolajczak

NEW YORK, April 16 (Reuters) - U.S. stock index futures rose on Tuesday, indicating the S&P 500 may rebound from its worst decline since November as gold prices rebounded and ahead of a flurry of earnings reports.

* Gold recouped some of their earlier steep losses but remained volatile after investors dumped risk assets overnight, gripped by worries over slowing growth in China and the United States. U.S. gold futures advanced 2.2 percent.

* U.S.-listed shares of Barrick Gold rose 3.9 percent to $20.56 and Randgold Resources climbed 6.2 percent to $73.30 in premarket trade.

* U.S. stocks posted their worst day since Nov. 7 in the prior session as big declines in the price of gold, oil and other commodities fed a broad selloff in equities, with weakness accelerating late in the session after two explosions near the finish line of the Boston Marathon.

* Investors will eye a batch of earnings reports, with 11 S&P 500 companies expected to post results, including Dow components Johnson & Johnson, Coca-Cola Co and Intel Corp. Also on tap are earnings from Goldman Sachs .

* BlackRock Inc said on Tuesday that first-quarter net income jumped 10 percent as investors increasingly turned to the money manager's higher-fee stock funds.

* Data on the housing market and inflation are due at 8:30 a.m. (1230 GMT) with the release of the March consumer price index along with housing starts and permits for March.

* Economists in a Reuters survey expect an unchanged CPI reading in March compared with a 0.7 percent rise in February. Excluding volatile food and energy items, CPI is seen up 0.2 percent, a repeat of the February increase.

* Housing data is forecast to show a 930,000 annualized rate in March versus 917,000 in February, and a total of 940,000 permits in March compared with 939,000 in the prior month.

* S&P 500 futures rose 7.4 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 rose 65 points, and Nasdaq 100 futures added 15.75 points.

* At 9:15 a.m. (1315 GMT), the Federal Reserve releases industrial production and capacity utilization data for March. Economists in a Reuters survey expect a 0.2 percent rise in production and a reading of 78.4 percent for capacity utilization.

* European shares fell for the third straight day due to concerns about global growth, with Louis Vuitton owner LVMH a high profile loser after poor sales figures from its fashion and leather goods business.

* Japan's Nikkei average trimmed earlier losses to end down 0.4 percent, after tumbling as much as 2 percent earlier as the yen's rebound took a toll on sentiment.

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