NEW YORK (TheStreet) -- U.S. stock futures were rising Tuesday indicating a higher open for Wall Street ahead of an appearance by Federal Reserve Chairman Ben Bernanke before Congress.
Investors will be measuring Bernanke's words and reading his body language for hints of additional stimulus for the American economy from the central bank. Bernanke addresses Congress on Tuesday and Wednesday.
European stocks were mostly higher while Asian shares finished Tuesday with gains. Japan's Nikkei 225 rose 0.4% to close at 8,755.00 and China's Shanghai Composite Index gained 0.6% to 2,161.19.
In the U.S. on Monday, stocks slumped after domestic retail sales posted a surprise decline. Fresh concerns about the global economy were also stoked by the International Monetary Fund's reduction of its 2013 global growth forecast.The Dow Jones Industrial Average fell 50 points, or 0.39%, to close at 12,727.
The economic calendar in the U.S. on Tuesday includes the consumer price index for June at 8:30 a.m. EDT; industrial production and capacity utilization data for June at 9:15 a.m.; and the National Home Builders Association's housing market index for July at 10 a.m.
Yahoo! (YHOO) ended its leadership search, naming Marissa Mayer , a former executive with Google (GOOG), as CEO. Mayer, 37, has never had any experience running a company, and she is taking over for a struggling Internet company that is undergoing a transformation. Marc Andreessen, the Netscape co-founder, who is now with venture-capital firm Andreessen Horowitz, tells Business Insider that naming Mayer as CEO is "a huge statement on the part of the board that they want the company to be product-led." Andreessen said hiring Mayer is a great choice because, among other things, "she knows the Internet inside out. "
Dow components Coca-Cola (KO), Johnson & Johnson (JNJ) and Intel (INTC) report second-quarter earnings on Tuesday. Coke, the beverage giant, is expected by analysts to post second-quarter profit of $1.19 a share on revenue of $12.98 billion.
Goldman Sachs (GS), which also reports second-quarter earnings on Tuesday, is reportedly building an in-house bank to lend money to wealthy people and companies, The Wall Street Journal reported. The move is is a part of Goldman's cautious strategy to reshape its business, the newspaper said.
-- Written by Joseph Woelfel
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