NEW YORK (TheStreet) -- U.S. stock futures suggested Wall Street would open higher on Tuesday after stocks gained in the previous session on hints the Federal Reserve could deploy another round of quantitative easing.
European stocks were posting gains and Asian shares finished higher after Fed Chairman Ben Bernanke indicated on Monday that U.S. monetary policy will remain accommodative.
Tuesday's economic calendar in the U.S. features Redbook weekly chain-store sales at 9 a.m. EDT, the Case-Shiller 20-city home price index for January at 9 a.m., and consumer confidence for March at 10 a.m.
United Technologies' (UTX) proposed $18.4 billion acquisition of Goodrich (GR) is receiving an in-depth investigation from the European Commission because of competition concerns. Both companies make aviation equipment. "The Commission's preliminary investigation indicated potential competition concerns regarding the markets for engine controls and AC power generators, where the parties would have very high combined market shares," said the European commission, in a statement.
Apple (AAPL) CEO Tim Cook is meeting with officials in China Tuesday to clear up problems for the tech giant such as claims of poor working conditions. It's Cook's first trip since taking over from late co-founder Steve Jobs in August. "Tim is in China meeting with government officials. China is very important to us and we look forward to even greater investment and growth there," said Carolyn Wu, Apple's China spokeswoman, Reuters reported. China is Apple's biggest growth market.
Walgreen (WAG) reports fiscal second-quarter earnings Tuesday and analysts are expecting profit of 78 cents a share on revenue of $18.58 billion. Investors will get an update on Walgreen's split with Express Scripts (ESRX) and how it's doing without the pharmacy benefits manager.
BMW plans a global recall of 1.3 million 5- and 6-series cars with model years from 2003 to 2010. BMW said in rare cases a battery cable covering in the trunk was incorrectly installed. The defect could prevent the car from starting and in extreme cases could lead to a fire.
-- Written by Joseph Woelfel
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