Stocks are poised to open Tuesday's session notably higher, as a light day on the economic and earnings front has traders looking to do some bargain hunting in the recently beaten down markets. The major index futures are all in positive territory, with the Dow futures up by 77 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 percent for December following a 1.5 percent increase in the previous month.
As earnings season is winding down, Coca-Cola Co. (KO) reported fourth quarter earnings of $0.66 per share, just short of the $0.67 per share forecast by analyst. Net revenues for the quarter rose 5 percent to $7.51 billion, topping consensus revenue estimate of $7.21 billion.
Pulte Homes Inc. (PHM) reported a fourth quarter net loss of $0.31 per share, compared to a net loss of $1.33 per share in the year ago quarter. Consolidated revenue for the quarter rose 5 percent to $1.73 billion, compared to $1.64 billion in the same period last year. Analysts expected the company to report a loss of $0.19 per share on revenues of $1.50 billion.
Swiss banking giant UBS AG (UBS) reported a profit for the fourth quarter compared to losses reported for the previous 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.
Earlier in the day, Japanese automaker Toyota Motor Corp. (TM) announced the recall of nearly half a million new Prius and other hybrid cars due to problems related to the software program that controls the vehicles' anti-lock braking system.
After showing a lack of direction throughout much of the trading day, stocks ended Monday's session sharply lower. The Dow closed down by 104 points at 9,908, the Nasdaq fell 15 points to 2,126 and the S&P 500 lost 9 points to close at 1,057.
Oil prices are up $0.91 to $72.80 a barrel after rising by $0.70 to $71.89 a barrel in the previous session. Gold futures, which rose $13.40 to $1,066.20 an ounce yesterday, are currently up by $11.10 to $1,077.30 an ounce.
On the currency front, the dollar is lower against the major European currencies, falling to $1.3757 against the euro and dipping to $1.5631 against the pound. Meanwhile, the dollar has gained ground against the yen and is currently trading at 89.67 yen.
In overseas trading, stocks markets across the Asia-Pacific region closed mixed on Tuesday. Japan's Nikkei 225 fell by 0.2 percent, while Hong Kong's Hang Seng Index gained 1.2 percent.
Meanwhile, the major European markets are all seeing moderate strength. The French CAC 40 Index and the German DAX Index are both up by 0.3 percent, while the U.K.'s FTSE 100 Index is up by 0.5 percent.
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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.