Stock futures point to weaker Wall Street open
Futures for the Dow Jones industrial average, the S&P 500 and the Nasdaq 100 fall 0.1 to 0.3 percent, pointing to a weaker start on Wall Street on Tuesday.
Strong earnings from Intel Corp
China will chart its own course in reforming the yuan, President Hu Jintao said as U.S. President Barack Obama renewed his call for a more flexible Chinese currency.
The two heads of state, meeting for the first time since Sino-U.S. tensions over the yuan threatened in recent months to escalate into a serious trade dispute, chose their words carefully and, in the view of investors, left the door open for Beijing to resume appreciation in the coming weeks.
At 8:30 a.m. ET, Commerce Department releases February international trade figures. Economists in a Reuters survey forecast a $38.5 billion deficit compared with a $37.29 billion deficit in January.
ICSC/Goldman Sachs release at 7:45 a.m. ET chain store sales for the week ended April 10. In the previous week, sales were up 2.1 percent.
CSX Corp
Labor Department releases import-export prices for March at 8:30 a.m. ET. Economists in a Reuters survey forecast a 0.9 percent rise in imports and a 0.3 percent increase in exports. In February, import prices fell 0.3 percent and exports were down 0.5 percent.
The Federal Deposit Insurance Corp (FDIC) may expand its unlimited deposit insurance program for certain business bank accounts, the Wall Street Journal said, citing sources familiar with the matter.
At 8:55 a.m. ET, Redbook releases its Retail Sales Index of department and chain store sales for April versus March. In the prior period, sales were up 1.5 percent.
ABC News releases at 5 p.m ET its consumer comfort index for the week ended April 11 versus the prior week. In the previous week, the index read -43.
Oil prices fell for a fifth straight session to about $84 a barrel, almost erasing April's gains, as a forecast increase in U.S. crude inventories fanned concern about excess supplies and sluggish demand growth.
* Shares of Alcoa Inc
Shares of Tennant Co
The pan-European FTSEurofirst 300 <.FTEU3> index of top shares is down 0.2 percent. The index is up around 70 percent since reaching a lifetime low in early March 2009.
Japan's Nikkei average <.N225> fell 0.8 percent on Tuesday, moving further away from last week's 18-month highs as a stronger yen led to profit-taking.
The Dow Jones industrial average <.DJI> rose 8.62 points, or 0.08 percent, to 11,005.97 -- its highest close since September 2008. The Standard & Poor's 500 Index <.SPX> climbed 2.11 points, or 0.18 percent, to 1,196.48. The Nasdaq Composite Index <.IXIC> added 3.82 points, or 0.16 percent, to 2,457.87.
(Reporting by Atul Prakash; Editing by Louise Heavens)
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