By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) -- U.S. stock futures shifted slightly
higher Tuesday, as investors readied for potentially more
investment signals from durable goods, home prices and other
data.
Investors will be looking to see what the S&P 500 index in
particular does, after it notched a new intraday high above 2,000
and closed just shy of that psychological barrier.
Futures for the S&P 500 index (SPU4) rose 3.3 points to
1,998.20, while those for the Dow Jones Industrial Average (DJU4)
gained 30 points to 17,086. Futures for the Nasdaq-100 index (NDU4)
added 7.75 points to 4,071.30.
Data ahead, more on S&P 500 at 2K: Durable-goods orders for
July will be released at 8:30 a.m. Eastern Time. Economist predict
record-high orders -- a 12.6% gain versus a 1.7% rise in June,
though much of that gain is being credited to a big month for
Boeing Co. (BA). A report on core capital-goods orders is coming at
the same time.
Investors will also get a fresh look at house prices via
separate June reports from S&P/Case-Shiller and the Federal
Housing Finance Agency, both due at 9 a.m. Eastern Time. Then the
latest reading on consumer confidence, for August, comes at 10 a.m.
Eastern Time. Read a preview of all the data
While disappointment over durable goods could hit stocks, "it is
going to be any change in the geopolitical landscape that has the
potential to cause the most volatility," said Joao Monteiro,
analyst at Valutrades, in a note. See: Peace-talk hopes diminished
for Russia/Ukraine and U.S. military preps for surveillance flights
over Syria.
The S&P 500 index (SPX) notched an intraday record at
2,001.95 on Monday, but closed shy of that, up 0.5% to 1,997.92.
Plenty of people are asking where it goes from here. Read: The
S&P 500 topped 2,000. Should you care?
Bill McNamara, technical analyst at Charles Stanley, said the
S&P 500 continues to be supported by its long-term uptrend and
200-day moving average, with "little in the technical picture to
suggest that this situation is about to change."
"In fact, although the index is starting to look somewhat
overbought -- its 14-day MA (moving average) has pushed up to 65%
-- its recent surge in upside momentum looks set to continue and
further all-time highs (and a close above 2,000) cannot be too far
away," he said in a note on Tuesday.
Movers and shakers: Burger King Worldwide Inc.'s (BKW) planned
takeover of Canada-based Tim Hortons Inc. (THI) may stay in the
spotlight on after the news that the fast-food giant is getting
financing help from Warren Buffett's Berkshire Hathaway Inc.
(BRK/A) , The Wall Street Journal reported, citing sources.
Best Buy Co. (BBY) shares fell 2% in premarket trade after
same-store sales fell more than expected.
Shares of Kite Pharma Inc.(KITE) rose 25% in thin premarket
action, adding to a 30% late-session gain, after the biotech
reported the majority of patients responded positively to its
cancer-drug candidate.
Other markets: The Stoxx Europe 600 rose slightly, while the
FTSE 100 came back from a holiday to play catch-up with gains it
missed out on Monday.Asian stocks were mixed. Gold(GCV4) found some
renewed strength as the dollar (DXY) eased.
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