(By Salman - iStockAnalyst Writer)US stock futures turned green before the opening bell on Tuesday as a recovery in oil prices buoyed investor sentiment.
At 8:16 am ET,
Standard & Poor's 500 Index futures fell 1.60 points to 893.90.
Dow Jones Industrial Average futures gained 8 points to 8285.
Nasdaq Composite Index futures retreated 2.50 points to 1438.50.
Laura D'Andrea Tyson, a member of the panel advising President Barack Obama said on Tuesday that the United States should consider a possible second round of fiscal stimulus to further bolster the economy after the $787 billion rescue package launched in February.
Shares of chipmaker
Intel (
NASDAQ: INTC) gained in pre-market action after Merrill Lynch upgraded its rating to buy from neutral.
Late on Monday, credit-card company
Discover Financial Services (
NYSE: DFS) announced that it’s offering $500 million of shares. The company said in a statement that the proceeds will be used for general corporate purposes and to pay back funds to the U.S. Treasury's Troubled Asset Relief Program.
Early on Tuesday, railroad car manufacturer
Greenbrier Cos. Inc. (
NYSE: GBX) reported that it swung to a fiscal third-quarter net loss of $50.5 million, or $3 a share, from a profit of $8.1 million, or 49 cents a share. Total revenue tumbled 36% to $244.4 million.
Airplane maker
Boeing (
NYSE: BA) announced on Tuesday that it has agreed to acquire the business and operations conducted by Vought Aircraft Industries at its South Carolina facility, where Vought builds a key structure for Boeing's 787 Dreamliner airplane.
U.S. auto parts maker
Lear Corp. filed for
Chapter 11 bankruptcy protection on Tuesday, a day after setting out plans to restructure its $3.6 billion debt burden under a proposed deal with creditors.
Technology research firm
Gartner Inc expects global spending on information technology to decline 6 percent in 2009, sharper than an earlier forecast of 3.8 percent.
US stocks finished mostly higher on Monday as investors shrugged off weakness in commodity prices. A rally in defensive stocks also lifted sentiment.
European stocks gained in afternoon trade. At 12:28 pm London time, the UK FTSE rose 37.67 points or 0.90% to 4,232.58. The German DAX and French CAC added 0.81% and 0.63%.
Asian stocks finished with modest losses. The Nikkei 225 fell 33.08 points or 0.34% to 9,647.79. The Hang Seng index of Hong Kong dropped 117.14 points or 0.65% to end at 17,862.27.
NYMEX crude oil for August delivery climbed as much as 70 cents or 1.1% to $64.75 a barrel in electronic trading.
Disclosure: Author does not own any of the stocks discussed here.
