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US stock futures higher ahead of Goldman results

Tue Jul 14, 2009 4:17am EDT

Stocks

   

* U.S. stock index futures pointed to a stronger open on Wall Street on Tuesday, ahead of eagerly-awaited quarterly results from Goldman Sachs (GS.N).

* At 0809 GMT, futures for the S&P 500 SPc1 were up 0.3 percent, Dow Jones DJc1 futures were up 0.34 percent and Nasdaq 100 NDc1 futures were up 0.17 percent.

* Computer firm Dell (DELL.O) and railroad company CSX (CSX.N) will be in the spotlight on Tuesday. After the closing bell on Monday, shares of Dell fell 4 percent to $12.50 after it forecast lower gross margins for the July quarter. [ID:nN13208933].

* Shares of No. 3 U.S. railroad CSX rose after the bell on Monday after it reported a stronger-than-expected quarterly profit. In extended-hours trading, CSX shares gained 6.1 percent.

* U.S. crude oil prices CLc1 reversed the previous session's losses and rose above $60 a barrel on Tuesday, helped by improved sentiment amid a stock market rally, but lingering concerns over the outlook for demand capped the rebound.

* European shares climbed 0.9 percent in early trade, driven higher by banking stocks such as Barclays (BARC.L) and Deutsche Bank (DBKGn.DE), while mining stocks such as Rio Tinto (RIO.L) and BHP Billiton (BLT.L) tracked a rally in metal prices.

* Japan's Nikkei average .N225 added 2.3 percent to halt a nine-session losing run, with banks buoyed by upbeat analyst comments about the U.S. financial sector and exporters lifted by a halt in the yen's sharp appreciation.

* On the earnings front, companies due to report results on Tuesday include Goldman Sachs (GS.N), Intel (INTC.O) and Johnson & Johnson (JNJ.N).

Goldman shares in Frankfurt (GS.F) were up 0.8 percent, while Intel (INTC.F) and Johnson & Johnson (JNJ.F) rose 1.6 and 1.7 percent, respectively.

* On the macro side, investors were bracing for U.S. monthly retail sales, due at 1230 GMT, as well as monthly producer prices data, also due at 1230 GMT.

* U.S. stocks climbed more than 2 percent on Monday as bullish comments on financial sector performance from analyst Meredith Whitney lifted hopes that banks' quarterly results may be stronger than expected.

* The Dow Jones industrial average .DJI rose 185.16 points, or 2.27 percent, to end at 8,331.68. The Standard & Poor's 500 Index .SPX was up 21.92 points, or 2.49 percent, at 901.05. The Nasdaq Composite Index .IXIC was up 37.18 points, or 2.12 percent, at 1,793.21. (Reporting by Blaise Robinson; editing by Simon Jessop)



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