NEW YORK (
) -- U.S. stock futures are pointing to a slightly lower open as investors anticipate weak readings on housing and consumer confidence.
Futures for the
Dow Jones Industrial Average
were down by 61 points, or 67.2 points below fair value at 11,456. Futures for the
were down by 7 points, or 7.7 points below fair value, at 1201, and
futures were dropping by 12 points, or 15.4 points below fair value at 2208.
The Dow has surged about 360 points in the last two trading sessions following a speech from Federal Reserve chief Ben Bernanke on Friday that left the door open for the Fed to consider further stimulus measures come September.
On Monday, a Greek bank deal between Alpha Bank and Eurobank, positive news on consumer spending and less than expected damage from Hurricane Irene helped stocks climb higher. All three averages gained more than 2% on light trading.
The blue chip index has seen two rounds of rallying since Aug. 10, a few days after credit rating agency Standard & Poors downgraded U.S. credit, sending the Dow down to 10,720. It is yet to be seen whether the averages will test new lows.
"It's possible that in September, October or November, the market will reach a new bottom," said Paul Nolte, managing director of investment firm Dearborn Partners. "The decline might be slower but still stands a chance of scaring investors."
Eurozone woes remain on investor's mind. European markets were mixed with the FTSE in London rising 1.8% and the DAX in Frankfurt slipping 1%. Hong Kong's Hang Seng rose 1.7% while Japan's Nikkei added 1.2%.
In the U.S., investors are looking ahead to the government's highly anticipated monthly job report on Friday. Economists are expecting some 100,000 jobs added in August after gains of 117,000 in July. Briefing.com is expecting the unemployment rate to tick up to 9.2% from 9.1% in July.
At 10 a.m., the Conference Board is expected to release its survey on how confidence Americans are about the economy. Consumer confidence is expected to drop to a reading of 52 in August after coming in at a level of 59.5 in July.
Home prices are edging lower but have been stable for the past few months according to the Case-Shiller Home Price Index. Home prices dropped 4.5% year-over-year in June, about in line with consensus estimate. For the second quarter, prices increased 3.6%, after falling 4.1% in the first quarter.
said Tuesday that K-Cup portion packs of its coffees for the Keurig brewing system manufactured by
Green Mountain Coffee Roasters
will be available for retail sale in the United States in November. Starbucks and Green Mountain Coffee Roasters reached a licensing agreement back in March for Starbucks to be the "exclusive licensed super-premium coffee brand" for Keurig system. Shares of Starbucks were rising 0.1% at $38.10 while Green Mountain shares were advancing 0.4% to $99.13.
Jacksonville, Fla.-based supermarket operator
forecasted adjusted earnings before interest, taxes, depreciation and amortization of $120 million to $135 million with same-store sales seen rising 2.5% to 3.5% for fiscal 2012 after
Wall Street's profit expectations for its fiscal fourth-quarter results as same-store sales rose 3.2%. Shares were rising 14.9% to $7.60 ahead of the open.
reported second-quarter adjusted earnings 52 cents a share, compared with the average analyst expectation of 48 cents a share. Shares were gaining 5% to $35.50 in premarket trading.
At 2 p.m. the Federal Reserve is expected to release minutes from its Aug. 9 Federal Reserve Open Market Committee meeting.
The October crude oil contract was gaining 49 cents to trade at $86.78 a barrel. Elsewhere in commodity markets, gold for December delivery was gaining $34.70 to trade at $1,826 an ounce.
The benchmark 10-year Treasury was gaining 11/32, diluting the yield to 2.22%. The dollar weakened against a basket of currencies, with the dollar index up by 0.6%.
-- Written by Chao Deng in New York