This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Stock Futures Rise as Iraq Anxieties Abate

NEW YORK (TheStreet) -- U.S. stock futures were pointing to a higher open on Wall Street Tuesday as anxieties about the turmoil in Iraq appeared to have abated and oil prices retreated.

Dow Jones Industrial Average futures were rising 22 points, or 23.99 points above fair value, to 16,724. S&P 500 futures were up 2.75 points, or 2.47 points above fair value, to 1,932. Nasdaq futures were higher by 7.8 points, or 8.82 points above fair value, to 3,780.

Crude oil futures for July were down 70 cents to $106.20 a barrel. Over the weekend, the militant group Islamic State in Iraq and Syria (ISIS) uploaded pictures and videos of it conducting mass executions on Iraqi soldiers. Phillip Futures investment analyst Howie Lee, like others, doesn't expect ISIS to really capture the Southern oil fields from their current bases in Northern Iraq since ISIS forces are relatively thin.

President Obama on Monday informed Congress that he would be sending as many as 275 military personnel to Iraq to provide support and security for U.S. personnel and the U.S. Embassy in Baghdad. Obama is also reportedly mulling the deployment of up to 100 special operations troops to the country to counsel its armed forces amid the clashes with Sunni Muslim insurgents.

European markets staged a mild rebound Tuesday, partly in response to a slight reduction in oil prices and a hope that, for now, the renewed conflict in Iraq has been priced in.

U.S. economic releases on tap for the day include housing starts and building permits for May at 8:30 a.m. EDT, and the Consumer Price Index for May at 8:30 a.m.

The Federal Reserve begins its two-day policy meeting on Tuesday. Another $10 billion cut to quantitative easing is a foregone conclusion, and with yields holding well to the 2.4% to 2.66% range, "the Fed's been able to engineer an easy exit from QE without much market disruption," noted David Ader, head of U.S. government bond strategy at CRT Capital Group.

Individual stocks to watch Tuesday include General Motors (GM - Get Report), Apple (AAPL - Get Report), Tesla (TSLA), and Adobe Systems (ADBE). GM is recalling another 3 million cars because of a defect that causes a similar problem to one that led to an earlier massive recall of small cars, and is linked to 13 deaths.

Apple reached a settlement in a civil class-action lawsuit pertaining to the fixing of electronic-book prices. A bill that would allow electric car maker Tesla Motors to open four showrooms in New Jersey and sell directly to consumers in the state got Assembly approval Monday, according to reports. Adobe, the software maker, is forecast by Wall Street to report on Tuesday fiscal second-quarter profit of 30 cents a share on revenue of $1.03 billion

U.S. stocks on Monday finished higher, though gains were constricted by escalating violence in Iraq.

-- By Andrea Tse in New York

June 17 Premarket Briefing: 10 Things You Should Know

European Stocks Stage a Mild Rebound

U.S. Markets Pull Ahead Though Geopolitical Threats Confine Gains

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $124.43 0.00%
GM $37.50 0.00%
FB $82.22 0.00%
GOOG $548.00 0.00%
TSLA $188.77 0.00%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs