Investing.com - U.S. stock futures were higher on Tuesday, as upbeat data from the euro zone improved the outlook for economic growth in the region while investors eyed the release of U.S. reports later in the day.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.42%, S&P 500 futures signaled a 0.55% increase, while the Nasdaq 100 futures indicated 0.43% gain.
Official data showed that consumer price inflation in the single currency bloc rose unexpectedly in March, accelerating to 2.7%, up from a preliminary estimate of 2.6%.
Meanwhile, a separate report showed that German economic sentiment improved unexpectedly in April, rising for the fifth consecutive month.
The ZEW Centre for Economic Research said that its index of German economic sentiment increased to 23.4 in April from the previous month’s reading of 22.3. Analysts had expected the index to decline to 20.0.
Retailers were expected to be active after data on Monday showed that U.S. retail sales rose 0.8% in March, beating expectations for a modest 0.3% gain, while core retail sales, which exclude automobile sales, rose by 0.8% last month, above expectations for a 0.6% gain, after rising by 0.9% in February.
Shares in Google and Oracle Corp were also likely to be in focus as both companies remained involved in an ongoing legal battle over Smartphone technology rights. Google shares edged down 0.01% in after hour trade.
Meanwhile, a unit of Toshiba Corp was said to be in talks to buy IBM Corp's point-of-sale terminal business, which includes cash registers, sending IBM shares up 0.22% in pre-market trade.
In the energy sector, Chesapeake Energy Corp saw shares add 0.5% in after hour trade after the company’s oilfield services unit said it filed to raise up to USD862.5 million in an initial public offering of its Class A common stock as the natural gas firm looks to fund its heavy spending.
In addition, the Federal Energy Regulatory Commission on Monday approved the U.S.’s first liquefied natural gas export plant in nearly 50 years, paving the way for construction to begin at Cheniere Energy's plant at Sabine Pass, Louisiana. Cheniere shares surged 11.83% in pre-market trade.
Other stocks in focus included Goldman Sachs, Coca-Cola, Yahoo and Johnson & Johnson, all expected to report first-quarter earnings after the opening bell.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.49%, France’s CAC 40 surged 1.44%, Germany's DAX climbed 1.16%, while Britain's FTSE 100 rose 0.79%.
During the Asian trading session, Hong Kong's Hang Seng Index fell 0.8%, while Japan’s Nikkei 225 Index eased down 0.1%.
Later in the day, the U.S. was to produce government data on building permits, housing starts and industrial production.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.42%, S&P 500 futures signaled a 0.55% increase, while the Nasdaq 100 futures indicated 0.43% gain.
Official data showed that consumer price inflation in the single currency bloc rose unexpectedly in March, accelerating to 2.7%, up from a preliminary estimate of 2.6%.
Meanwhile, a separate report showed that German economic sentiment improved unexpectedly in April, rising for the fifth consecutive month.
The ZEW Centre for Economic Research said that its index of German economic sentiment increased to 23.4 in April from the previous month’s reading of 22.3. Analysts had expected the index to decline to 20.0.
Retailers were expected to be active after data on Monday showed that U.S. retail sales rose 0.8% in March, beating expectations for a modest 0.3% gain, while core retail sales, which exclude automobile sales, rose by 0.8% last month, above expectations for a 0.6% gain, after rising by 0.9% in February.
Shares in Google and Oracle Corp were also likely to be in focus as both companies remained involved in an ongoing legal battle over Smartphone technology rights. Google shares edged down 0.01% in after hour trade.
Meanwhile, a unit of Toshiba Corp was said to be in talks to buy IBM Corp's point-of-sale terminal business, which includes cash registers, sending IBM shares up 0.22% in pre-market trade.
In the energy sector, Chesapeake Energy Corp saw shares add 0.5% in after hour trade after the company’s oilfield services unit said it filed to raise up to USD862.5 million in an initial public offering of its Class A common stock as the natural gas firm looks to fund its heavy spending.
In addition, the Federal Energy Regulatory Commission on Monday approved the U.S.’s first liquefied natural gas export plant in nearly 50 years, paving the way for construction to begin at Cheniere Energy's plant at Sabine Pass, Louisiana. Cheniere shares surged 11.83% in pre-market trade.
Other stocks in focus included Goldman Sachs, Coca-Cola, Yahoo and Johnson & Johnson, all expected to report first-quarter earnings after the opening bell.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 jumped 1.49%, France’s CAC 40 surged 1.44%, Germany's DAX climbed 1.16%, while Britain's FTSE 100 rose 0.79%.
During the Asian trading session, Hong Kong's Hang Seng Index fell 0.8%, while Japan’s Nikkei 225 Index eased down 0.1%.
Later in the day, the U.S. was to produce government data on building permits, housing starts and industrial production.