By Carla Mozee, MarketWatch
LONDON (MarketWatch) -- U.S. stock futures pushed higher
Tuesday, with the start of the second half of 2014 kicking off with
reports on auto sales, manufacturing activity and construction
spending.
Futures for the Dow Jones Industrial Average (DJU4) gained 41
points, or 0.2%, to 16,781 while those for the S&P 500 (SPU4)
picked up 4.4 points, or 0.2%, to 1,956.80. Futures for the Nasdaq
100 (NDU4)advanced 9.3 points, or 0.2%, to 3,849.75.
Shares of General Motors Co. (GM.XX) and Ford Motor Co. (F) and
other auto makers may be on the move as the industry rolls out U.S.
sales figures for June throughout the trading session. Analysts
expect, on average, stronger sales than the same month in 2013,
keeping the industry on track for a more than 3% sales increase
this year to 16.4 million cars.
GM will also be in focus after the company on Monday added about
7.6 million vehicles to safety recalls in the U.S., covering model
years from 1997 to 2014.
Two separate reports on the manufacturing sector are due, with
the first scheduled for release at 9:45 a.m. Eastern. Data firm
Markit will issue the final reading of its U.S. manufacturing
purchasing managers' index for June. Its preliminary figure
released last week was 57.5, up from 56.4 in May. Ahead of the U.S.
reports, two separate manufacturing PMIs from China showed
improvement in June, but manufacturing activity in the euro zone
slowed.
At 10 a.m. Eastern Time, the Institute for Supply Management's
June manufacturing report is expected to come in at 55.7% from
55.4% in May. "Overall, the ISM continues to point to an expansion
in the manufacturing sector, which has been one of the better
performing sectors in the U.S. economy," said Mizuho strategist
Sireen Harajli in a Monday note.
A report on construction spending in May from the Commerce
Department is expected at 10 a.m. Easter Time. Outlays for projects
are likely to rise 0.7%, according to economists polled by
MarketWatch.
Shares of Hormel Foods Corp. (HRL) could see action as the maker
of Skippy peanut butter and Spam meat product agreed late Monday to
buy privately-held Muscle Milk producer CytoSport Inc. for $450
million.
In other markets, Japan's Nikkei Average rose 1.1% and Europe's
Stoxx 600 was higher, with BNP Paribas SA gaining after the French
bank agreed to an $8.8 billion settlement with U.S. authorities in
a sanction probe.
U.S. benchmark crude-oil futures (CLQ4) rose 50 cents to $105.90
and gold futures (GCQ4) climbed $4.50 to $1,326.
U.S. stocks on Monday marked gains for June and the second
quarter. For the first half of 2014, the S&P 500 (SPX) rose
6.1% rise, the Dow industrials (DJI) rose 1.5%, and the Nasdaq
(RIXF) gained 5.5%.
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