Updated from 8:11 a.m. EDT(At 4:10 p.m. EDT)
Among the other economic reports to be posted Tuesday, the New York Fed will release its Empire Manufacturing index for April at 8:30 a.m. EDT, followed by the Fed's report on industrial production and capacity utilization for March at 9:15 a.m. EDT. Later in the day, the Fed will post its beige book survey, which shows economic activity across its 12 districts. In addition, weekly crude inventory numbers will be posted at 10:30 a.m. EDT.
Rumors of some sort of transaction involving Skype had been swirling earlier in the day after eBay said it would selling Internet site StumbleUpon for an undisclosed price as the company found few strategic synergies. (At 7:36 a.m. EDT)
Following Tuesday's close, Intel ( INTC) will be the earnings headliner, with at least one analyst expecting the chipmaker (and many others) to beat first-quarter targets and guide higher for the second quarter.
GM, which reportedly has a June 1 date with bankruptcy, was lately up 5.9% in premarket trading. In other automaker news, The Wall Street Journal reported that Chrysler's creditors are planning to make a counteroffer this week to the U.S. Treasury, which originally asked lenders owed about $6.9 billion to accept just $1 billion to keep the automaker from liquidating, Elsewhere, The Financial Times reported that the Securities and Exchange Commission is reviewing whether Bank of America broke the law by not telling shareholders about Merrill Lynch's plan to pay out $3.6 billion in bonuses before shareholders voted for a government-backed merger of the two banks, a report says