NEW YORK (Reuters) – Stock index futures crept higher on Tuesday after sharp losses in the previous session but continued concerns about Europe’s debt crisis could mean gains will be slight.
* The Dutch state successfully sold two bonds at an auctiona day after the government collapsed in a crisis over budgetcuts, but investors demanded a slightly higher risk premium forthe long dated bond as euro zone yields edged higher.
* “There is this persistent worry over the euro zone now,”said Peter Cardillo, chief market economist at Rockwell GlobalCapital in New York.
“It appears that the markets are trying toforce once again the EU to take a more aggressive approach interms of growth.”.
The results will be dissected after a share swoon raised concerns a gravity defying rally was over.
* S&P 500 futures rose 4.5 points and were above fairvalue, a formula that evaluates pricing by taking into accountinterest rates, dividends and time to expiration on thecontract.
Dow Jones industrial average futures gained 33points, and Nasdaq 100 futures added 14.5 points.
* The S&P 500 should hold near term support at 1,340 duringa pullback before extending its rally again, according to BrownBrothers Harriman analysts.
The index, which held at 1,340 during a pullback in early March, closed Monday at 1,366.94.
* One time growth darling Netflix Inc projectedslower subscriber additions this quarter for its key USvideo streaming service, sending shares down 15.3 percent to$86.20 in premarket trade.
* A key European index rose 0.7 percent earlyTuesday following the last session’s losses, but gains could befragile as fears over the euro zone debt situation persisted,with Spanish and Dutch debt auctions under the spotlight.
* Texas Instruments Inc forecast second quarterrevenue growth above Wall Street estimates, signaling the end ofa prolonged inventory related decline in demand.
* Facebook Inc reported its first quarter to quarter revenueslide in at least two years, a sign the social network’ssizzling growth may be cooling as it prepares to go public.
* Boeing Co has pulled ahead of Airbus in arace to win an aircraft order potentially worth more than $15billion with United Continental Holdings Inc.
* On the macro front, investors awaited the S&P/Case ShillerHome Price Index for February, due at 9 a.m.
EDT (1300 GMT), and April consumer confidence and new home sales for March, both due at 10 a.m.
* Yahoo Japan Corp’s negotiations with keyshareholder Yahoo Inc over a share buyback ended withno agreement, but the companies may still hold talks, a YahooJapan official said.
* Diversified manufacturer Crane Co posted higherfirst quarter profit, helped by growth at its aerospace andelectronics and fluid handling segments.
* Illumina Inc, which has fended off a hostiletakeover bid from Swiss drugmaker Roche Holding AG,reported higher than expected profit late Monday and maintainedits full year forecast.
* US stocks fell Monday as political turmoil in Europe castdoubts on the euro zone’s ability to push through measures toend its debt crisis and as Wal Mart shares sank on concernsabout a bribery investigation in Mexico.
Sam Connelly is a business journalist based in Dublin, Ireland. Sam has a passion for financial markets and breaking news stories and loves writing about business news, stock market, and economic opinions that matters most to its audience. Sam spends a lot of time discovering and researching latest financial markets and industry news stories in order to make sure the latest and greatest stories are brought to you first on BigBoardNews.com.
