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Futures Mixed After S&P/Case-Shiller Report

CNBC.com
Tuesday, 24 Apr 2012 | 9:05 AM ET

U.S. stock index futures were mixed Tuesday following the S&P/Case-Shiller home price index and as worries over Europe lingered.

Stocks ended in negative territory Monday, with the S&P breaking through a key 1,375 level, weighed by political and economic worries in the euro zone.

European shares bounced on Tuesday after hitting a 3-month low in the previous session. Investor sentiment was lifted by the Netherlands' successful $2.6 billion bond auction on Tuesday, despite the collapse of the Dutch government on Monday.

Corporations continued to post positive surprises in their earnings reports.

On the economic front, home prices slumped 0.8 percent in February on a non-seasonally adjusted basis, the lowest level since 2002, according to the S&P/Case Shiller composite index of 20 metropolitan area.

Among earnings, AT&T and 3M gained after both Dow components posted quarterly profits that beat Wall Street expectations. Fellow Dow 30 member United Technologies beat on earnings but missed on revenue.

All eyes will be focused on Apple as the iPhone maker is slated to post earnings after-the-bell.

Meanwhile, the government is scheduled to release the latest data on new home sales at 10am ET. And the Conference Board's consumer confidence report is also due at 10 am ET. Economists polled by Reuters expect a reading of 69.7.

The Treasury is set to auction $35 billion in 2-year notes on Tuesday, with the results available in the afternoon.

The Federal Reserve’s Open Market Committee begins a 2-day meeting, with the latest interest rate decision and statement due on Wednesday.

—Follow JeeYeon Park on Twitter: @JeeYeonParkCNBC

Coming Up This Week:

TUESDAY: S&P Case-Shiller home price index, new home sales, consumer confidence, FHFA home price index, 2-yr note auction, FOMC meeting begins, IBM shareholders meeting, Wells Fargo shareholders meeting; Earnings from Amgen, Apple, Baide, Aflac
WEDNESDAY: Weekly mortgage apps, durable goods orders, oil inventories, FOMC meeting announcement, 5-yr note auction, Bernanke press conference, Coca-Cola shareholders meeting, GE Shareholders meeting, Hudson City shareholders meeting, USDA food prices outlook; Earnings from Boeing, Caterpillar, Eli Lilly, GlaxoSmithKline, AutoNation, Delta, Credit Suisse, Motorola Solution, Sprint, Akamai
THURSDAY: Jobless claims, Chicago Fed nat'l index, pending home sales index, 7-yr note auction, J&J shareholders meeting; Earnings from AstraZeneca, Bristol-Myers Squibb, Chrysler, ExxonMobil, PepsiCo, Royal Dutch Shell, Barclays, Pulte, Amazon.com, Starbucks, Zynga
FRIDAY: GDP, employment cost index, consumer sentiment; Earnings froM Chevron, Merck, P&G

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