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TheStreet Open House

Stock Futures Advance in a Busy Day for Data

NEW YORK (TheStreet) -- U.S. stock futures were advancing in a busy day for economic data. On the bill, expect to see motor vehicle sales and construction spending data out Tuesday, while investors will get to take the temperature of the manufacturing sector with both the Markit PMI manufacturing index and the ISM manufacturing survey due for release.

U.S. auto sales for June are expected to slip slightly to 13 million domestic vehicles, from 13.3 million a month earlier, while the PMI manufacturing index for June is anticipated to climb to 57 from 56.4.

Dow Jones Industrial Average futures added 0.2% to 16,774, S&P 500 futures were moving 0.19% higher to 1,956.25 and the Nasdaq was up 0.29% to 3,851.5. The latter two clinched their sixth consecutive quarterly gain on Monday, a feat not seen in more than a decade. 

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European markets were gaining, while Asian markets closed mostly higher (save the Hang Seng, closed in Hong Kong for a public holiday). China PMI helped move markets along, reporting expansion for the first time in six months with a reading of 50.7.

Netflix (NFLX) shares were on the move in premarket, adding 3.8% to $457.25 after bagging an upgrade from Goldman Sachs. The firm revised Netflix to a "buy" rating with a $590 price target, noting scale of content acquisition costs as international growth picks up.

General Motors (GM) was slipping again after the announcement Monday it had added 8.2 million vehicles to its series of recalls. Year to date, the automaker has recalled a total 29 million units in North America. Premarket, shares were down 0.3% to $36.19.

Twitter  (TWTR) announced it has purchased Tap Commerce, a New York-based mobile advertising technology firm. Separately, the social network is testing a "buy now" feature to some promoted tweets, a move which would introduce e-commerce to the site. 

Acuity Brands (AYI) is scheduled to  report earnings before the bell. The company, which specializes in lighting fixtures, is expected to earn $1.12 a share on $609.1 million in revenue.

--Written by Keris Alison Lahiff in New York.

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