Modupe Gbadeyanka
By Investors Hub
The major US index futures are pointing to a higher opening on Tuesday following the modest pullback seen in the previous session.
Early buying interest may be generated in reaction to upbeat earnings news from well known companies such as 3M (MMM) and Caterpillar (CAT)
Trading activity may be somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.
After ending the previous session at record closing highs, stocks gave back some ground during trading on Monday. The major averages reached record intraday highs but pulled back to end the day in negative territory.
The Dow dipped 54.67 points or 0.2 percent to 23,273.96, the Nasdaq fell 42.23 points or 0.6 percent to 6,586.83 and the S&P 500 slid 10.23 points or 0.4 percent to 2,564.98.
The choppy trading on Wall Street came as traders seemed reluctant to make significant moves amid a quiet day on the U.S. economic front.
The economic calendar will pick up in the comings days with the release of reports on durable goods orders, new home sales, pending home sales, and consumer sentiment.
Traders may also have been looking ahead to release of earnings news from big name companies such as General Motors (GM), McDonald’s (MCD), AT&T (T), Boeing (BA), Coca-Cola (KO), Visa (V), Ford (F), Amazon (AMZN), Intel (INTC), Microsoft (MSFT), Exxon Mobil (XOM), and Merck (MRK).
Energy, airline and gold stocks saw considerable weakness on the day, while strength was visible among computer hardware stocks.
