U.S. stock index futures rise; Alcoa results eyed
U.S. stock index futures pointed to a higher open on Wall Street on Tuesday that would halt a four-session losing streak, with futures for the S&P 500 up 0.32 percent, Dow Jones futures up 0.34 percent and Nasdaq 100 futures up 0.44 percent at 0845 GMT.
Aluminum major Alcoa Inc (AA.N: Quote) kick-starts the quarterly earnings season on Tuesday, the first company in the Dow Jones industrial average .DJI to report earnings for the January-March quarter and seen as a bellwether for the industrial sector.
On the macro side, economists in a Reuters survey forecast wholesale inventories for February, due at 1400 GMT, to rise 0.5 percent versus a rise of 0.4 percent in January.
European stocks fell 0.8 percent in morning trade on Tuesday, hitting 2-1/2 month lows following a long holiday weekend, as the market tracked Monday's sharp losses on Wall Street following disappointing U.S. monthly jobs data. .EU
China returned to an export-led trade surplus of $5.35 billion in March, suggesting that a rebound in the global economy is lifting overseas orders just in time to compensate for a slowdown in domestic demand.
But a Reuters poll on Monday showed most major Wall Street firms expect anemic growth in the U.S. jobs market and a struggling economic recovery to force the Federal Reserve to undertake another massive round of monetary stimulus.
Facebook will pay $1 billion in cash and stock for Instagram, a 2-year-old photo-sharing application developer, in its largest-ever acquisition just months before the No. 1 social media website is expected to go public.
Sony Corp (6758.T: Quote) forecast a record $6.4 billion net loss for the business year just ended, its fourth straight year of losses and double earlier forecasts, inflated by writing off deferred tax assets in the United States.