This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NEW YORK (
TheStreet) -- Stock futures fluctuated ahead of the bell on Tuesday, after retail sales came in better than expected.
Futures for the
Dow Jones Industrial Average were lower by 11 points at 10,461 and were 14 points below fair value. Futures for the
S&P 500 were lower by 2 points at 1114 and were 2 points below fair value, and
Nasdaq futures were unchanged at 1917 and were 2 points below fair value.
Retail sales for August
climbed 0.4%, the Commerce Department said early Tuesday. That was higher than the 0.3% analysts were expecting, boosting investor sentiment.
At 10 a.m. EDT, the Commerce Department is expected to say that business inventories climbed 0.7%, according to consensus estimates from Briefing.com. Changes in business inventories are used by economists to get a reading on industrial production data, which also will be released later this week.
Stocks surged for the fourth consecutive session on Monday after international regulators agreed to raise capital standards for banks, putting an end to the uncertainty surrounding new regulations. Positive economic data from China and more deal-making activity also added to the bullish sentiment.
European markets were trading mixed on Tuesday. The industrial production of the 16 nations that use the euro as a currency was flat in August, lower than the 0.2% increase predicted, acting as further confirmation that growth in the region was slowing. Investor confidence in Germany sunk to a 19-month low of minus 4.3 in September, much below the forecast of 10, according to the ZEW Center for Economic Research. The FTSE in U.K. and the Dax in Germany were trading marginally lower Tuesday.
Asian markets ended on mixed note
on Tuesday. Japan's Nikkei finished 0.2% lower as investors awaited the results of Japan's elections.
Japanese Prime Minister Naoto Kan survived a challenged to his leadership and was re-elected president
of the ruling Democratic party on Tuesday. The results came after market hours. Hong Kong's Hang Seng Index rose 0.2%.
A few more earnings rolled in ahead of the opening bell Tuesday.
Best Buy(BBY) reported a 62% increase in second-quarter per-share earnings to 60 cents, above the 46 cents analysts were expecting. It also raised its fiscal-year outlook by 10 cents to $3.55 to $3.70 a share.
Kroger(KR) said its profit rose 2.8% to $261.6 million, or 41 cents a share. Revenue grew 6% to $18.79 billion. Analysts were expecting earnings of 36 cents a share on revenue of $18.73 billion.