NEW YORK (
) -- Stock futures were pointing to a rebound Tuesday after a jump in U.S. durable goods orders and ahead of a home price report that's expected to show a sizable improvement.
Futures for the
were ticking up 2.75 points, or 4.91 points above fair value, at 1,549.75 after the index soared Monday to within a point of its record high set in October 2007 on optimism about a €10 billion bailout deal for Cyprus involving massive cuts to its banking sector. The index faded by midday though as the terms of the agreement led to concerns that they would set a bad precedent for other troubled eurozone nations.
Futures for the
Dow Jones Industrial Average
were increasing 24 points, or 40.25 points above fair value, at 14,410.
futures were climbing 6.25 points, or 8.95 points above fair value, at 2,790.5.
The Census Bureau reported that durable goods orders rose 5.7% in February after falling by an upwardly revised 3.8% in January; economists were looking for durable goods orders to rise 3.8% in February. Much of the rebound was driven by commercial aircraft orders.
Excluding transportation, orders fell 0.5%, after gaining an upwardly revised 2.9% the previous month.
At 9 a.m., the S&P/Case-Shiller 20-city home price index is predicted to show an increase of 7.9% in January after a rise of 6.8% in December.
Out at 10 a.m. is the Conference Board's Consumer Confidence Index, which is expected to have fallen to 68 in March from 69 in February.
Also at 10 a.m., the Census Bureau is forecast to report that new-home sales fell to a seasonally adjusted annual rate of 422,000 in February from an annualized 437,000 in January.
The FTSE 100 in London was adding 0.07% and the DAX in Germany was gaining 0.2% on Tuesday. The Hong Kong Hang Seng index closed higher by 0.27% and the Nikkei 225 index in Japan finished off 0.6%.
The benchmark 10-year Treasury was declining 4/32, boosting the yield to 1.936%. The dollar was unchanged, according to the
U.S. dollar index.
May crude oil futures were rising $1.62 to $95.33 on the New York Mercantile Exchange.
Children's Place Retail Stores
(PLCE - Get Report)
was tumbling 5.44% to $43.49 in premarket trading after the retailer forecast a decline in both fiscal 2013 and first-quarter earnings as the weak economic environment causes consumers to rein in spending and weather patterns work against the company.
Children's Place is forecasting first-quarter earnings of 60 cents to 65 cents a share, down from $1.14 a share the same-quarter last year based on predictions for negative high-single digit same-store sales. Full-year earnings are expected to be between $2.90 and $3.10 a share compared with $3.25 a year ago.
(ZIOP - Get Report)
was plummeting 62.77% to $1.91 after the company said Tuesday that it is
scrapping the development of palifosfamide
after the sarcoma drug failed to benefit patients in a pivotal phase III clinical trial.
Calumet Specialty Products Partners
(CLMT - Get Report)
was shedding 4.91% to $37.19 after announcing Monday evening an offering of 5.25 million units. The company said the proceeds will be used for general purposes and maybe paying down debt.
(BTU - Get Report)
shares were rising 2.16% to $21.25 after the coal company was upgraded to "outperform" from "market perform" at Raymond James.
Written by Andrea Tse in New York
>To contact the writer of this article, click here: