Stock Futures Pare Gains on Weak Data


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U.S. stock-index futures fell from session highs Tuesday after a regional manufacturing gauge came in well below expectations.

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As of 8:40 a.m. ET, Dow Jones Industrial Average futures climbed 3 points, or 0.02%, to 16130, S&P 500 futures were flat at 1835 and Nasdaq 100 futures rose 1.5 points, or 0.04%, to 3663.

Japanese shares soared on the day after the country's central bank said it would keep its foot pressed firmly on the economic accelerator. However, European markets lagged amid mixed economic data. The closely-watched ZEW survey of German economic sentiment rose more than analysts expected, but UK inflation took a bigger-than-expected dip.

On the U.S. economic front, the New York Federal Reserve's manufacturing index fell to 4.48 in February, from 12.51 the month prior, well below Wall Street’s expectation of 9. Readings above 0 indicate expansion, while those below point to contraction

In corporate news, Coca-Cola (NYSE:KO) posted quarterly profits that matched expectations, but sales trailed estimates. Actavis (NYSE:ACT) said it will buy Forest Laboratories (NYSE:FRX) in a cash-and-stock deal valued at $25 billion.

Elsewhere, U.S. crude oil futures climbed 77 cents, or 0.77%, to $101.07 a barrel. Wholesale New York Harbor gasoline advanced 0.72% to $2.836 a gallon. Gold slumped $4.60, or 0.34%, to $1,314 a troy ounce.

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