Futures for the Dow Jones Industrial Average were rising 45 points, or 34.71 points above fair value, at 13,282. Futures for the S&P 500 were up more than 5 points, or 3.32 points above fair value, at 1432. Futures for the Nasdaq were up more than 9 points, 6.10 points above fair value, at 2794. The major U.S. equity indices finished lower Monday as disappointing economic data from both at home and China prompted a mild bout of profit-taking ahead of the Federal Reserve's policy meeting later this week. Tthe Census Bureau reported Tuesday that the U.S. trade deficit increased to $42 billion in July from a downwardly revised $41.9 billion in June. Economists expected the trade deficit to widen to $44 billion. The National Federation of Independent Business' Small Business Optimism Index rose to 92.9 in August from 91.2 in July, up for the first time in four months, driven by a big increase in the job creation sub-index. The FTSE in London was slipping 0.39% on Tuesday, while the DAX in Germany was up 0.01%. The Hong Kong Hang Seng index closed up 0.15% and the Nikkei in Japan finished down 0.7%. The most anticipated event this week remains the Fed's policy announcement on Thursday. Investors are bracing for a potential bond-buying program from the Fed, giving the S&P a strong catalyst to reach new multi-year highs. Another highly awaited development will come from the German Constitutional Court's ruling on the legality of the permanent bailout fund Wednesday -- which will then be followed by a meeting of European finance ministers in Cyprus Friday for talks about banking supervision and possible extra aid for Spain and Greece. The benchmark 10-year Treasury was down 1/32 Tuesday, raising the yield to 1.662%. The greenback was falling 0.26%, according to the dollar index. October crude oil futures were down 3 cents at $96.51 a barrel and December gold futures were rising $2.50 at $1,734.30 an ounce. In corporate news, McDonald's ( MCD) said global same-store sales gained 3.7% in August. The results missed expectations of an increase of 3.9% as the global economy continues to stall. Zynga ( ZNGA) disclosed in a regulatory filing Monday that Jeff Karp, the chief revenue and marketing officer at the maker of social games, has resigned. Texas Instruments ( TXN), the chipmaker, is slated to give its mid-quarter update Tuesday. Jamie Dimon, CEO of JPMorgan Chase ( JPM), gives a presentation at 12:45 p.m. Tuesday to investors in New York at a conference organized by Barclays in New York. Shuffle Master ( SHFL), the Las Vegas gaming equipment supplier, on Monday missed Wall Street's earnings expectations for its fiscal third quarter.
NEW YORK (TheStreet) -- Stock futures were pointing to a modest rebound on Wall Street Tuesday, after data showed a small rise in the U.S. trade deficit and an improvement in small business confidence.
2012 Stock Predictions and Outlook
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