Stock Futures Tick Up Amid Upbeat Earnings

By MarketsFOXBusiness

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U.S. stock-index futures ticked up on Tuesday as traders reviewed encouraging earnings from two blue-chip companies and eyed mixed data.

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Today's Markets

As of 8:41 a.m. ET, Dow Jones Industrial Average futures rose 35 points, or 0.22%, to 16131, S&P 500 futures advanced 4.8 points, or 0.26%, to 1829 and Nasdaq 100 futures rose 9.7 points, or 0.28%, to 3480.

Corporate earnings season is revving up. Citigroup (NYSE:C) logged a first-quarter beat on Monday. Ahead of the opening bell Tuesday, Johnson & Johnson (NYSE:JNJ) posted stronger-than-expected results on the top and bottom lines, while Coca-Cola (NYSE:KO) revealed quarterly profits that beat views, coupled with sales that matched views.

Chipmaker Intel (NASDAQ:INTC) and online media firm Yahoo (NASDAQ:YHOO) are set to unveil their quarterly results after the close of trading in New York.

The economic docket is quite full on the day as well.

The Labor Department reported prices for consumer goods rose 0.2% in March, slightly topping Wall Street views of a 0.1% increase. Excluding the food and energy components, prices rose by the same margin, also above estimates of 0.1%.The Federal Reserve has been working hard to boost inflation, so the data are expected to take on increased emphasis.

The New York Federal Reserve’s gauge of manufacturing activity fell to 1.29 in April, compared to 5.61 in March. Economists expected the metric to rise to 8. Readings above 0 point to expansion, while those below indicate contraction.

Later in the day, traders will also get an update on homebuilder sentiment for the month of April. Economists said sentiment likely ticked up in April as the weather improved across the U.S.

Several Federal Reserve officials are also set to speak on the day, including chairman Janet Yellen, Philadelphia Fed chief Charles Plosser and Minneapolis Fed President Narayana Kocherlakota.

Elsewhere, U.S. crude oil futures fell 97 cents, or 0.93%, to $103.08 a barrel. Wholesale New York Harbor gasoline dipped 0.71% to $3.017 a gallon. Gold dropped $23.90, or 1.8%, to $1,303 a troy ounce.

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