US STOCKS-Futures climb on gold bounce, earnings

Tue Apr 16, 2013 8:20am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* Gold prices rebound after selloff

* Goldman Sachs, Coca-Cola higher after earnings

* CPI, housing starts data on tap

* Futures up: Dow 106 pts, S&P 12 pts, Nasdaq 22.75 pts

By Chuck Mikolajczak

NEW YORK, April 16 (Reuters) - U.S. stock index futures rose on Tuesday, indicating the S&P 500 may rebound from its worst decline since November, as gold prices bounced and healthcare company Johnson & Johnson was among companies reporting stronger-than-expected earnings.

Spot gold gained 2.5 percent as the market tried to steady after the precious metal recorded its biggest ever daily drop in dollar terms in the prior session. But even as physical buyers seized on the lower prices, investors remained jittery about further declines.

U.S.-listed shares of gold miners Barrick Gold and Randgold Resources rose on earnings. Barrick rose 3.2 percent to $20.56 and Randgold climbed 5.9 percent to $73.14 in premarket trade.

U.S. stocks posted their worst day since Nov. 7 on Monday as big declines in the price of gold, oil and other commodities fed a broad selloff in equities, with weakness accelerating late in the session after two fatal explosions near the finish line of the Boston Marathon.   Continued...