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CORRECTED - Index futures point to weaker Wall St open

Tue Jul 28, 2009 7:40am EDT

Stocks

   

(Corrects to make clear that Visa is reporting results on Wednesday)

* Futures for the Dow Jones industrial average DJc1, the S&P 500 SPc1 and the Nasdaq 100 NDc1 fall 0.2-0.3 percent, pointing to a weaker Wall Street open on Tuesday.

* ICSC/Goldman Sachs release at 1145 GMT chain store sales for the week ended July 25. In the previous week, sales rose 0.5 percent.

* At 1255 GMT, Redbook releases its Retail Sales Index of department and chain store sales for July versus June. In the prior period, sales fell 1.7 percent.

* Standard & Poor's releases its S&P Case/Shiller Home Price Index for May at 1300 GMT. Economists in a Reuters survey expect a decrease of 0.5 percent versus a 0.6 percent fall in April.

* Bank of America Corp (BAC.N) is planning to reduce its 6,100-branch network by about 10 percent, the Wall Street Journal cited the bank's chief executive Kenneth Lewis as telling investors.

* General Electric (GE.N) holds its second big investor briefing of the year on its GE Capital finance arm. Wall Street is on the watch for more details on how the restructuring is going.

* Visa (V.N), the world's largest payment network, is expected to report higher quarterly earnings on Wednesday, as consumers relied more on their debit cards and the company increased prices and trimmed costs.

* Results are also due from Viacom (VIAb), United States Steel (X), Rockwell Automation (ROK), Textron (TXT), Paccar (PCAR.O), McGraw-Hill (MHP) and Office Depot (ODP).

* U.S. Treasury and State Departments host U.S.-China Strategic and Economic Dialogue, Washington, D.C. Treasury Secretary Timothy Geithner and Chinese Vice Premier Wang Qishan participate in Economic Track opening session (1315 GMT).

* At 1400 GMT, the Conference Board releases July consumer confidence. Economists in a Reuters survey expect a reading of 49.0 compared with 49.3 in June.

* B/E Aerospace Inc (BEAV.O), the world's biggest supplier of aircraft interior products, saw quarterly profits fall by a third as recession-hit customers in the airline and aerospace industries deferred projects to conserve cash. [ID:nBNG477121]

* Putnam Investments plans to cut fees on some mutual funds, not wanting pricing to hinder growth, the Wall Street Journal said, citing an interview with the company's head of global marketing Jeffrey Carney. [ID:nBNG468113]

* The U.S. Commodity Futures Trading Commission (CFTC) is planning to issue a report next month that suggests that wild swings in oil prices were significantly driven by speculators, the Wall Street Journal reported on its website [ID:nBNG473949]

* China Unicom (0762.HK), one of China's top three mobile carriers, has reached a preliminary agreement with Apple (AAPL.O) for the exclusive sale of its iPhone handset in China for three years, the official Shanghai Securities News reported on Tuesday. However a China Unicom official said a formal deal had not been reached. An Apple spokeswoman declined to comment.

* The Dow Jones industrial average .DJI rose 15.27 points, or 0.17 percent, to close at 9,108.51 on Monday. The Standard & Poor's 500 Index .SPX gained 2.92 points, or 0.30 percent, to 982.18. The Nasdaq Composite Index .IXIC added 1.93 points, or 0.10 percent, to end at 1,967.89.

* European shares inched lower after hitting their highest level in more than eight months.

* Amgen Inc (AMGN.O) shares rose 1.6 percent to $61.76 in extended trade on Monday after the biotechnology company reported second-quarter results. [ID:nWNBB3429]

* Shares in Human Genome Sciences (HGSI.O) fell 2.5 percent to $13.65 in extended trade on Monday after the biopharmaceutical company said it would publicly offer of up to 18 million shares of its common stock. [ID:nWNBB3452]

(Reporting by Atul Prakash; editing by John Stonestreet)



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