Market Hustle: Stock Futures Maintain Gains After Durable Goods Orders

NEW YORK (TheStreet) -- U.S. stock futures were maintaining gains Tuesday as investors analyzed fresh data on durable goods orders.

Dow Jones Industrial Average futures were rising 59 points, or 60.73 points above fair value, to 16,645. S&P 500 futures were up 7.25 points, or 6.22 points above fair value, to 1,904.25. Nasdaq futures were up 15.8 points, or 15.07 points above fair value, to 3,692.

  • U.S. durable goods rose 0.8% in April, blowing past an expected 0.5% decline. Non-defense capital good orders excluding the aircraft component fell 1.2%.

  • Other economic indicators expected Tuesday include the S&P/Case-Shiller 20-city home price index for March at 9 a.m., the Federal Housing Finance Agency House Price Index for march at 9 a.m., the Markit "flash" PMI services index for May at 9:45 a.m., and the Conference Board Consumer Confidence Index for May at 10 a.m.

  • The Case-Shiller 20-city is forecast to increase 11.8% year over year.

  • "The economic data will continue to be the focus of attention as investors attempt to gauge the tone of the recovery to assess whether the pick-up in U.S. growth momentum is being sustained," noted TD Securities' U.S. research and strategy deputy head, Millan Mulraine.

  • AutoZone (AZO) was trading sideways in premarket trading after narrowly topping quarterly earnings estimates by a penny at $8.46 a share.

  • Hillshire Brands (HSH) was surging 21.83% after Pilgrim's Pride (PPC) proposed to buy Hillshire for $45 a share in cash in a transaction valued at $6.4 billion. Pfizer (PFE) was rising 0.71% after pulling the plug on a takeover of British drugmaker AstraZeneca (AZN), in what would have been the largest deal in the pharmaceutical industry's history.

  • U.S. stocks gained Friday, with the S&P 500 closing above 1,900 for the first time ever after stronger-than-expected new home sales in April provided further evidence of a housing recovery.

-- By Andrea Tse in New York

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