Investing.com - U.S. stock futures pointed to a higher open on Tuesday, after euro zone ministers ratified the terms of a bailout agreement for Spain’s banking sector, while investors eyed talks between European Union officials later in the day.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.43% rise, S&P 500 futures signaled a 0.35% increase, while the Nasdaq 100 futures indicated a 0.39% gain.
Investors eyed a meeting of EU finance ministers, after their euro zone counterparts agreed on Monday to make EUR30 billion in aid available to assist Spain’s struggling banking sector by the end of the month, while also supporting plans to extend Spain’s deficit target deadline by one year to 2014.
They made no apparent progress, however, on activating the bloc's rescue funds to intervene in bond markets and bring down Spain and Italy’s spiraling borrowing costs.
Spain’s 10-year government bonds eased to 6.9% earlier, moving below the critical 7% threshold which is widely seen as unsustainable in the long term.
Aluminum producer Alcoa was set to remain in focus for the second consecutive session, after the company announced late Monday quarterly revenue and profit that beat estimates, even though prices for its aluminum are at nearly two-year lows.
The computer tech sector was also expected to be active, as Google was reportedly close to paying USD22.5 million to settle charges that it bypassed the privacy settings of customers using Apple's Safari browser. Apple shares rose 0.29% in pre-market trade.
Intel shares tumbled 1.07% in early trading on the other hand, following reports that it intends to spend more than USD4 billion on up to 15% of ASML and bankroll the Dutch company's research into costly next-generation chip-making technology.
Also in company news, bankrupt aircraft maker Hawker Beechcraft said it is in exclusive talks with a little-known Chinese aerospace firm over a USD1.79 billion takeover.
Meanwhile, United Technologies announced on Monday that its Sikorsky Aircraft unit had signed a five-year, USD8.5 billion contract to build 653 H-60 Black Hawk and Seahawk helicopters for the U.S. Army and Navy.
In the financial sector, U.S. lenders were likely to track their European counterparts sharply higher, supported by Monday’s agreement on financial help for Spain.
In addition, Barclays Chairman Marcus Agius was to face questions by Britain’s MPs on what he knew about the Libor scandal that threatens a dozen more international banks.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.46%, France’s CAC 40 advanced 1.31%, Germany's DAX surged 1.46%, while Britain's FTSE 100 climbed 0.90%.
During the Asian trading session, Hong Kong's Hang Seng Index eased down 0.1%, while Japan’s Nikkei 225 Index dipped 0.4%.
Also Tuesday, official data showed that Chinese exports and imports in June slowed from the previous month, as weakening global demand weighed.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.43% rise, S&P 500 futures signaled a 0.35% increase, while the Nasdaq 100 futures indicated a 0.39% gain.
Investors eyed a meeting of EU finance ministers, after their euro zone counterparts agreed on Monday to make EUR30 billion in aid available to assist Spain’s struggling banking sector by the end of the month, while also supporting plans to extend Spain’s deficit target deadline by one year to 2014.
They made no apparent progress, however, on activating the bloc's rescue funds to intervene in bond markets and bring down Spain and Italy’s spiraling borrowing costs.
Spain’s 10-year government bonds eased to 6.9% earlier, moving below the critical 7% threshold which is widely seen as unsustainable in the long term.
Aluminum producer Alcoa was set to remain in focus for the second consecutive session, after the company announced late Monday quarterly revenue and profit that beat estimates, even though prices for its aluminum are at nearly two-year lows.
The computer tech sector was also expected to be active, as Google was reportedly close to paying USD22.5 million to settle charges that it bypassed the privacy settings of customers using Apple's Safari browser. Apple shares rose 0.29% in pre-market trade.
Intel shares tumbled 1.07% in early trading on the other hand, following reports that it intends to spend more than USD4 billion on up to 15% of ASML and bankroll the Dutch company's research into costly next-generation chip-making technology.
Also in company news, bankrupt aircraft maker Hawker Beechcraft said it is in exclusive talks with a little-known Chinese aerospace firm over a USD1.79 billion takeover.
Meanwhile, United Technologies announced on Monday that its Sikorsky Aircraft unit had signed a five-year, USD8.5 billion contract to build 653 H-60 Black Hawk and Seahawk helicopters for the U.S. Army and Navy.
In the financial sector, U.S. lenders were likely to track their European counterparts sharply higher, supported by Monday’s agreement on financial help for Spain.
In addition, Barclays Chairman Marcus Agius was to face questions by Britain’s MPs on what he knew about the Libor scandal that threatens a dozen more international banks.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.46%, France’s CAC 40 advanced 1.31%, Germany's DAX surged 1.46%, while Britain's FTSE 100 climbed 0.90%.
During the Asian trading session, Hong Kong's Hang Seng Index eased down 0.1%, while Japan’s Nikkei 225 Index dipped 0.4%.
Also Tuesday, official data showed that Chinese exports and imports in June slowed from the previous month, as weakening global demand weighed.