IBTimes.com

Futures on major U.S. stock indices point to a higher opening as better-than-expected earnings and strong outlook from corporates including UBS, Deutsche Bank and DuPont boosted sentiment.

Futures on the S&P 500 are up 0.50 percent, futures on the Dow Jones Industrial Average are up 0.42 percent and Nasdaq100 futures are up 0.49 percent.

UBS shares surged after the company posted a net profit of CHF2.01 billion for the second quarter compared to a loss of CHF1.4 billion a year ago. The company’s revenue climbed 59 percent to CHF9.19 billion.

Du Pont’s second quarter net income rose to $1.16 billion or $1.26 per share from $417 million or 46 cents per share a year ago. The company raised its full-year earnings outlook to a range of $2.90 to $3.05 per share, excluding significant items, from its previous range of $2.50 to $2.70 per share.

On Monday, US stock markets ended with good gains as FedEx raised its earnings outlook by 20 cents for the first quarter ending August 31 to a range of $1.05 to $1.25 per share and new home sales data came in better than expected.

International Game Technology, Fiserv, CB Richard Ellis and C.H. Robinson Worldwide will report results after the market closes. Investors are cautious ahead of economic data including CB consumer confidence and Washington post consumer confidence.

Embattled British energy giant BP Plc posted a record $17.2 billion second quarter loss, Tuesday, dragged by Gulf oil spill costs, but soothed investors' concerns by announcing that it would replace its troubled chief executive Tony Hayward with Bob Dudley later this year.

European markets are currently trading higher, led by gains from banks, on Tuesday with FTSE 100 trading up by 41.76 points, DAX30 trading up by 36.76 points and CAC 40 trading up by 36.41 points.

On the economic front, Eurozone Private Loans for June rose 0.3 percent compared to a year ago, while Euro zone M3, which measures cash, deposits and several other financial benchmarks, rose 0.2 percent in June from a 0.1 percent fall in May.

The euro advanced 0.23 percent to 1.3025 against the dollar and the yen declined 0.63 percent against the greenback.

Crude oil futures advanced 0.10 percent as stronger-than-expected U.S. home sales data lifted prices even as energy companies’ restarted production after Tropical Storm Bonnie fizzled. Copper futures rose 0.19 percent. In precious metal sector, gold futures declined 0.10 percent and silver futures declined 0.19 percent.

Asian stock markets were mixed on Tuesday as investors cautious about a rebound in U.S. new home sales amid lingering worries over the strength of the global economic recovery. Japanese Nikkei declined 0.07 percent, Chinese Shanghai Composite declined 0.51 percent and Hong Kong’s Hang Seng index advanced 0.64 percent.

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