By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.S. stock futures indicated a slightly
lower open for Wall Street Tuesday, ahead of reports expected to
show some slowing in U.S. housing prices and confidence among U.S.
consumers.
The market will also assess a round of quarterly results from
the health sector, including Aetna Inc. and Merck & Co.
Futures for the Dow Jones Industrial Average (DJU4) fell 13
points to 16,904, while those for the S&P 500 index (SPU4) gave
up 2 points to 1,970.80. The Nasdaq 100 index (NDU4) slipped 2.75
points to 3,957.25.
A snapshot of consumer confidence from the Conference Board is
due at 10 a.m. Eastern. The reading is expected to fall to 85.0 in
July, after a jump in June to the index's highest level in six and
a half years. Confidence still remains well below pre-recession
levels.
On tap at 9 a.m. Eastern is the Case-Shiller home price index
for May, and that's likely to show the cost of buying a home has
tapered off after a significant runup last year.
Data released Monday showed pending U.S. homes sales fell 1.1%
in June, the first decline in four months. That report "confirmed
Fed Chair Yellen's remarks before the Senate Banking committee
earlier this month about the overall slowdown in the housing
sector," wrote Marshall Gittler, head of global FX strategy at
IronFX, on Tuesday.
Yellen and her fellow monetary policy makers will begin their
two-day policy meeting Tuesday afternoon.
Ahead of the opening bell, health insurer Aetna (AET) is
expected to report second-quarter earnings of $1.59 a share on
revenue of $13.99 billion.
Drug maker Merck & Co. (MRK) is likely to post per-share
earnings of 81 cents, on $10.6 billion in revenue.
Pharmaceutical company Pfizer Inc. (PFE) is seen reporting
earnings of 57 cents a share on $12.47 billion in revenue.
Logistics company United Parcel Service Inc. (UPS) is forecast
to report $1.25 a share in earnings on sales of $14.12 billion.
Investors will also keep watch for any update about further
sanctions that may be imposed against Russia by the European Union
related to its conflict with Ukraine.
After the regular session ends, Twitter Inc. (TWTR) is slated to
release second-quarter results.
In Asia, most major stock markets ended higher, with Japan's
Nikkei Average up 0.6%. In Europe, the U.K.'s FTSE 100 edged higher
on upbeat earnings reports.
Oil prices (CLU4) were up 7 cents at $101.74 a barrel, while
gold (GCU4) rose nearly $5. The U.S. dollar index (DXY), which
measures the greenback against a basket of six other currencies,
was little changed at 81.032 from 81.025 on Monday.
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