Bonds News

US stock futures point to higher open; await PMI data

* U.S. stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 SPc1 up 0.8 percent, Dow Jones DJc1 futures 0.8 percent higher, and Nasdaq 100 NDc1 up 1.1 percent at 0903 GMT.

* The U.S. Chicago PMI for March is due at 1345 GMT with economists in a Reuters survey forecasting a reading of 34.5 in the month compared with 35.2 in February.

* U.S. consumer confidence due out at 1400 GMT is expected to have edged up in March from the record low hit in February. Economists in a Reuters survey expect a reading of 28.0 compared with 25.0 in February.

* Bookseller Borders BGP.N posts quarterly results. Analysts expect the company to earn 95 cents a share, excluding items, down from $1.44 a year earlier, according to Reuters Estimates.

* No. 2 U.S. homebuilder Lennar Corp LEN.N reports fiscal first-quarter results. Analysts, on average, expect a deeper net loss as the company scrambles to sell off inventory in the face of a prolonged U.S. recession. They expect the company to post a loss of 69 cents.

* Shares in American Electric Power AEP.N fell 4 percent in extended trade after the company cut its guidance to below Wall Street estimates and scaled back capital spending plans for next year.

* The Wall Street Journal reported Google GOOG.O is expected to announce more detail about its highly anticipated venture-capital fund, including its plan to commit roughly $100 million to the endeavor in its first year, said people familar with the matter.

* Goldman Sachs GS.N banker Byron Trott, one of Warren Buffett's main deal makers, is leaving to start his own merchant-banking firm, according to people familiar with the matter, and Buffett's Berkshire Hathaway BRKa.N plans to invest in the entity, reported the Wall Street Journal.

* The Wall Street Journal said Eli Lilly & Co LLY.N Chief Executive John Lechleiter said the drug maker is looking for acquisitions of as much as $15 billion now it has digested ImClone Systems.

* U.S. stocks tumbled on Monday as two major U.S. automakers took a step closer to potential bankruptcy, and a spate of European bank rescues heightened concerns over the financial system’s health, putting the brakes on a recent run-up.

* On Monday, the Dow Jones industrial average .DJI lost 3.27 percent, the Standard & Poor's 500 Index .SPX tumbled 3.48 percent and the Nasdaq Composite Index .IXIC fell 2.81 percent.

* Japan's Nikkei stock average fell 1.5 percent on Tuesday, with banks and insurers down, but the mood was more optimistic in Europe, where the FTSEurofirst 300 .FTEU3 index of top European shares was up 1.3 percent in a broad rally. (Additional reporting Blaise Robinson) (Reporting by Joanne Frearson; Editing by Dan Lalor)