Stock Futures Fluctuate as G7 Call Ends

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U.S. stock-index futures zigzagged on Tuesday as traders began parsing through remarks from G7 finance ministers following a call on the darkening state of the global economy.

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Today's Markets

As of 8:55 a.m. ET, Dow Jones Industrial Average futures gained 17 points to 12080, S&P 500 futures fell 0.3 point to 1273 and Nasdaq 100 futures rose 1.8 points to 2471.

The Group of 7 industrial nations held hold a conference call on Tuesday about the increasingly gloomy state of many of the world's biggest economies. Growth in the U.S. and China appears to be slowing down, while Europe's economy is under heavy pressure from the debt crisis there.

The results of the call were not immediately clear, however, Japan's Finance Minister Jun Azumi was quoted by Dow Jones Newswires as saying the main subject of the call was Europe's debt crisis. Azumi said the influential group agreed to cooperate on issues such as Spain and Greece, according to the report.

European markets fell in choppy action as traders awaited news from the call. The Euro Stoxx 50, which tracks eurozone blue chips, dipped 0.2%, while the German DAX slid 0.9%.

The economic calendar is fairly light on the day. The Institute for Supply Management releases its report on the services sector at 10:00 a.m. ET. Economists expect that sector to have expanded at an increasing pace in May from April.

Elsewhere, commodities markets were mixed. The benchmark crude oil contract traded in New York slipped 43 cents, or 0.51%, to $83.55 a barrel. Wholesale New York Harbor gasoline fell 2 cents, or 0.6%, to $2.65 a gallon.

In metals, gold rose $4.70, or 0.29%, to $1,618 a troy ounce.

U.S. Treasury yields were little changed, with the 10-year clocking in at 1.537%.

Foreign Markets

The Euro Stoxx 50 dropped 0.2% to 2086 and the German DAX dipped 0.9% to 5924. The London Stock Exchange was closed for a holiday.

In Asia, the Japanese Nikkei 225 rallied 1% to 8382 and the Chinese Hang Seng climbed 0.4% to 18259.