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U.S. stock-index futures pointed to gains for Wall Street on Tuesday as traders parsed through a deluge of corporate news, earnings and economic data.
As of 8:52 a.m. ET, Dow Jones Industrial Average futures climbed 60 points to 13419, S&P 500 futures gained 6.8 points to 1442 and Nasdaq 100 futures rose 13.3 points to 2745.
Traders had a slew of earnings to parse through ahead of the opening bell.
Goldman Sachs (GS) unveiled third-quarter profits of $2.85 a share on revenues of $8.35 billion, beating estimates of $2.12 a share on sales of $7.3 billion. The investment bank also raised its quarterly dividend to 50 cents a share from 46 cents.
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Johnson & Johnson (JNJ) posted third-quarter earnings of $1.25 a share, excluding special items, beating estimates by four cents. The health-care giant’s revenues came in at $17.1 billion, also better than forecasts of $16.98 billion. The Dow component also raised its full-year guidance to a range of $5.05 to $5.10 a share, from $5 to $5.07 a share.
Coca-Cola (KO) revealed an adjusted third-quarter profit of 51 cents a share, meeting Wall Street’s expectations. The beverage and snack maker’s sales came in at $12.34 billion, shy of estimates of $12.41 billion. Shares fell slightly in pre-market trading.
UnitedHealth (UNH), the blue-chip insurer, revealed quarterly earnings of $1.50 a share, besting estimates of $1.34 a share. Revenues came in at $27.3 billion, slightly shy of Wall Street's estimates of $27.62 billion. The latest entrant to the Dow also raised its full-year 2012 outlook to a range of $5.20 to $5.25 a share, compared to expectations of $5.14.
Also on the corporate front, Vikram Pandit stepped down as Citigroup's (C) CEO and will be replaced with Michael Corbat. Chief Operating Officer John Havens also resigned.
Citigroup shares have tumbled some 89% during Pandit's tenure, which coincided with the global financial crisis Citi's subsequent massive government bailout, according to data compiled by FOX Business.
Citigroup shares have slumped some 89% during Pandit's tenure, which coincided with the global financial crisis Citi's subsequent massive government bailout, according to data compiled by FOX Business.
Traders will also get a handful of economic reports.
The Labor Department said inflation at the consumer level increased 0.6% in September from August, a bigger increase than the 0.5% economists expected, as energy prices jumped. Excluding food and energy, prices ticked up 0.1%, a smaller gain than the 0.2% expected.
Later in the morning, a report from the Federal Reserve is expected to show a 0.2% increase in U.S. industrial production in September on a month-to-month basis. Meanwhile, the National Association of Home Builders' gauge of housing-market sentiment is expected to have climbed slightly this month as the market for new homes continues to show increasing signs of improvement.
Oil futures were mildly higher after a volatile session on Monday. The benchmark crude oil contract traded in New York rose 5 cents, or 0.08%, to $91.92 a barrel. Wholesale New York Harbor gasoline gained 0.21% to $2.856 a gallon.
In metals, gold gained $4.50, or 0.26%, to $1,742 a troy ounce.
The Euro Stoxx 50 jumped 1% to 5120, the English FTSE 100 climbed 0.66% to 5844 and the German DAX advanced 0.73% to 7314.
In Asia, the Japanese Nikkei 225 rallied 1.4% to 8701 and the Chinese Hang Seng edged up by 0.28% to 21207.