NEW YORK (
) -- U.S. stock futures were rising Tuesday despite weak manufacturing data from China as investors cheered earnings reports from
(DD - Get Report)
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(NFLX - Get Report)
Futures for the
were up 6.25 points, or 5.2 points above fair value, to 1,562.25.
"China's PMI was bad so the day started off with the futures lower. But earnings the report this morning from DD is helping the futures rally," said Jonathan Corpina, senior managing partner at Meridian Equity Partners in New York. "170
companies are reporting this week, so if there is momentum early, it will follow through. NLFX has been an interesting story and I think investors are looking at this as the new 'hot stock'."
DuPont was rising 0.7% to $50.74 in premarket trading after the chemicals giant reaffirmed its 2013 outlook. DuPont reported first-quarter earnings that exceeded Wall Street expectations as robust agricultural segment sales helped buffer the impact of softening demand for titanium dioxide. Dupont also raised its dividend 5%.
Coach's stock was surging in pre-market trading after the luxury retailer posted third-quarter profit that
beat analysts' average
estimates. Shares were up 13% to $57.30 before the market opened Tuesday.
Netflix, the online-entertainment company, was surging 24% to $216.38 after posting earnings on Monday that beat Wall Street expectations. The company had
more than 36 million streaming subscribers
at the end of the quarter, up 3.05 million from the previous quarter.
U.S. stocks rose Monday after
forecast growth in China and a hedge fund's interest in
drove the software maker's shares higher offsetting an unexpected decline in sales of previously-owned homes.
Futures for the
were up 18.25 points, or 12.53 points above fair value, to 2,815.5. Futures for the
Dow Jones Industrial Average
were rising 66 points, or 64.83 points above fair value, to 14,565.
The preliminary number for HSBC's Purchasing Managers Index fell to 50.5 from 51.6 in March. A print above 50 indicates expansion. The slowdown in China was blamed on a fall in new export orders, which can be indicative of global demand weakness.
"As China tries to shift from investment-driven growth to one that is consumption-driven, an appreciating Chinese Renminbi encourages consumption and developed the service sector of the economy," noted Sim Han Qiang, an investment analyst at Phillip Futures Pte in Singapore. "An appreciating Chinese Renminbi undermines the export and manufacturing industries as their export will be priced higher on the international markets."
Meanwhile Germany's private sector shrank for the first time since last November amid weakness in both its services and manufacturing sectors this month.
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, the iPhone, iPad and iPod maker, was up 0.88% to $402.06 in premarket trading ahead of its fiscal second-quarter earnings report after the bell. The company is expected by analysts to post fiscal second-quarter earnings of $10.04 a share on revenue of $42.38 billion.
The key to Apple's earnings report will be guidance for the June quarter, as the tech giant gets ready to
refresh its product lineup,
with the oft-rumored iPhone 5S and new iPad and iPad mini tablets.
will be live-blogging Apple's earnings on Tuesday beginning at 3:45 p.m. EDT.
U.S. economic releases Tuesday include the new-home sales report for March from the Census Bureau at 10 a.m. New-home sales are expected to have risen to a seasonally adjusted annual rate of 420,000 in March from 411,000 in February.
, the largest telecommunications company in the U.S., is expected by analysts on Tuesday after the close to post first-quarter earnings of 64 cents a share on revenue of $31.7 billion. In the year-earlier quarter, AT&T earned $3.6 billion, or 60 cents a share, on revenue of $31.8 billion. Shares were up 0.13% to $38.78 in premarket trading.
June crude oil futures were falling 79 cents to $88.40 a barrel on the New York Mercantile Exchange, while June gold futures were down $7.60 to $1,413.60 an ounce.
The dollar was rising 0.34% to $82.95 according to the
U.S. dollar index.
The benchmark 10-year Treasury was rising 9/32, diluting the yield to 1.665%
The FTSE 100 in the UK was up 1.29% and the DAX in Germany was ahead by 1.56%. The Hong Kong Hang Seng index closed down 1.08% and the Nikkei 225 in Japan finished off 0.29%.
Written by Andrea Tse in New York
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