NEW YORK, April 9 U.S. stock index futures were
mixed on Tuesday as encouraging data that showed consumer
inflation in China cooled last month was offset as investors
braced for an earnings season that is expected to be lackluster.
* The data out of China led to expectations there would be
less pressure to tighten policy, leaving room to support the
nascent economic recovery.
* Forecasts for U.S. first-quarter earnings have been scaled
back in 2013, with profits seen rising just 1.6 percent from the
year-ago quarter, according to Thomson Reuters data. In January,
earnings were seen rising 4.3 percent.
* Alcoa Inc was the first Dow component to report
results after the bell on Monday. The aluminum producer reported
a higher quarterly profit, but lower-than-expected revenue.
* J.C. Penney shares slid 5.5 percent to $15.00 in
premarket trade after the department store chain replaced its
chief executive officer with his predecessor.
* S&P 500 futures edged up 0.6 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 fell 3
points, while Nasdaq 100 futures added 11 points.
* On the macro front, investors awaited U.S. wholesale
inventories, due at 10:00 am EDT (1400 GMT). Economists in a
Reuters survey forecast inventories to rise 0.5 percent in
February versus an increase of 1.2 percent in January.