U.S. stock futures point to a higher opening Tuesday morning as traders look to seize buying opportunities at lower levels in early trading following a sell-off in previous session amid sovereign debt crisis in Greece.
Economic data related to wholesale inventories and earnings from major companies including Walt Disney will be in focus even as concerns about the European debt crisis and sustaining of economic recovery continue to haunt sentiment. The world markets traded on a mixed note and the dollar is giving back some ground.
As of 6:15 am ET, the Dow futures were up 38.00 points, the S&P futures were up by 5.70 points and the tech-heavy Nasdaq 100 futures were up by 10.00 points.
On the economic front, the Commerce Department will release its wholesale inventories report for December at 10.00 a.m ET. Economists expect wholesale inventories to have risen by 0.5% for December following a 1.5% increase in the previous month.
Before the market opens for trading, a slew of companies including Coca-Cola (KO), Biogen Idec (BIIB), Gartner (IT), KVH Industries (KVHI), LCA Vision (LCAV) and Pulte Homes (PHM) are slated to report their quarterly results.
Walt Disney (DIS), XL Capital (XL), Learning Tree (LTRE), EOG Resources (EOG), Netgear (NTGR) and Bob Evans (BOBE) are among the major companies that will report their quarterly report cards after the markets close.
Earlier in the day, Japanese automaker Toyota Motor Corp. (TM) announced the recall of four of its models sold in Japan due to problems related to the software program that controls the vehicles' antilock braking system. The carmaker said it will callback approximately 223,000 vehicles of Prius, Prius Plug-in Hybrid, Sai and Lexus HS250h models.
Swiss banking giant UBS AG (UBS) reported a profit for the fourth quarter compared to losses reported for the last quarter and prior year periods, benefiting from higher net interest income and lower costs. The year-over-year turnaround also reflected much lower trading loss. However, outflows soared sequentially, and chief executive Oswald Grübel said addressing the causes of net new money outflows remains a main priority.
After the markets closed for trading in the previous session, insurance and reinsurance provider Axis Capital Holdings Ltd. (AXS) said its profit doubled in the fourth quarter from a year-ago on higher premium earned and higher investment income. Axis Capital's fourth quarter profit jumped to $282.06 million or $1.87 per share from $130.85 million or $0.88 per share in the year-ago period.
Waste Connections, Inc (WCN) reported a decline in profit for the fourth quarter, notwithstanding a 19.4% growth in revenues. On an adjusted basis, net income increased, adjusted for costs primarily associated with the early termination of certain interest swaps, the elimination of acquisition-related costs expensed in 2008 related to the LeMay transaction, the elimination of a loss on the company's prior corporate office lease and the elimination of a loss on disposal of assets primarily related to the sale of certain routes and certain service contract loss.
Oil Light sweet crude oil price for March delivery is presently quoted at $72.19 a barrel, up $0.30 from its previous close of $71.89 a barrel in New York on Monday. Dollar The U.S. dollar is gaining against the yen, but is trading weaker against the euro and the pound.
World Markets The markets across Asia, except Japan and Australia, ended in positive territory as traders evinced fresh buying interest on beaten-down stocks. Optimism about resolving sovereign debt crisis and bargain hunting at lower levels offset most of the losses across the markets in the region. The markets in Europe are presently trading mixed, having given up some of the early gains.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.