Wall St set for higher open; ISM data awaited
U.S. stock index futures pointed to a higher open for equities, with investors waiting for a slew of economic data, including U.S. ISM figures for November and pending home sales numbers.
Futures for the S&P 500, Dow Jones industrial average and the Nasdaq 100 were up 0.8 to 0.9 percent.
European shares rose on Tuesday, bouncing back from falls in the previous session as fears eased about the fallout from Dubai's debt problems and investors' appetite increased for relatively riskier equities. The pan-European FTSEurofirst 300 <.FTEU3> index of top shares was up 1.9 percent.
Crude oil prices climbed toward $78 a barrel, adding to the previous session's advance. Base metals prices also rose, with copper rising 0.8 percent and aluminum up 1.1 percent.
In economic news, the Institute for Supply Management is due to release its November manufacturing index at 1500 GMT. Economists in a Reuters survey expect a reading of 55.0 versus 55.7 in October.
At 1500 GMT (10 a.m. EST), the National Association of Realtors issues Pending Home Sales for October. Economists in a Reuters survey expect a 0.8 percent fall compared with a 6.1 percent rise in the previous month.
ICSC/Goldman Sachs releases chain store sales for the week ended November 28 versus the prior week at 1245 GMT (7:45 a.m. EST). In the previous week, sales were unchanged.
At 1355 GMT (8:55 a.m. EST), the Redbook releases its Retail Sales Index of department and chain store sales for November versus October. In the prior period, sales rose 4.8 percent.
At 1500 GMT (10 a.m. EST), the Commerce Department releases October construction spending. Economists in a Reuters survey forecast a fall of 0.5 percent compared with a 0.8 percent rise in the prior month.
U.S. automakers release November auto sales. Economists in a Reuters survey expect annualized sales of 3.70 million cars and 4.20 million trucks. In October, the figures were 3.71 million cars and 4.17 million trucks.
In earnings news, Staples
General Electric Co
The dollar fell against the yen on Tuesday, cutting earlier gains after the Bank of Japan said it would provide 10 trillion yen ($115 billion) in a new fixed-rate operation but stopped short of more aggressive measures to support the economy.
Shares of Guess Inc
Shares of Human Genome Sciences Inc
U.S. stocks rose on Monday, helping the Dow post its fifth straight monthly gain, on hopes that possible fallout from Dubai's debt woes will be contained.
The Dow Jones industrial average <.DJI> rose 0.3 percent, the Standard & Poor's 500 Index <.SPX> was up 0.4 percent and the Nasdaq Composite Index <.IXIC> gained 0.3 percent.
(Reporting by Joanne Frearson; editing by John Stonestreet)
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