U.S. Futures Mixed Amid Investor Caution

By Tim Paradis

NEW YORK -- Investors remain cautious as they await reports on housing and inflation a day after a stock market slide.

Stock futures are showing only modest moves after major market indexes fell sharply Monday. Investors have been worrying that a three-month rally would lose momentum. Traders are also concerned that a recovery in the U.S. economy might not be as many on Wall Street had been hoping.

Overseas, European stock markets steadied by midday after Asian markets tumbled.

A slew of U.S. economic data due ahead of the opening bell could reshape sentiment. A government report is expected to show that new home construction rose in May from a record low a month earlier and that building permits increased slightly.

The Labor Department is also expected to release data on wholesale inflation. The Producer Price Index for May and the housing figures are due at 8:30 a.m. EDT.

The Federal Reserve is expected to report on industrial production for May at 9:15 a.m.

Quarterly results are also due from retailer Best Buy(BBY).

Ahead of the numbers, Dow Jones Industrial Average futures rose 13, or 0.2%, to 8,632. S&P 500 index futures rose 1.50, or 0.2%, to 920.90, while Nasdaq 100 index futures slipped 0.25, or less than 0.1%, to 1,457.00.

On Monday, the Dow tumbled 187 points, or 2.1%, putting it back into the red for the year. Last week, the blue chips were up on the year for the first time since January.