Stock futures signal Wall Street may edge up at open

June 5th, 201211:06 am @


Tue Jun 5, 2012 4:37am EDT

(Reuters) – Stock index futures pointed to a slightly higher open on Wall Street on Tuesday, with futures for the SP 500, the Dow Jones and the Nasdaq 100 up 0.1-0.3 percent.

Exxon Mobil Corp (XOM.N), the world’s largest publicly traded energy company, is considering exporting liquefied natural gas from the United States, CEO Rex Tillerson said on Tuesday.

ICSC/Goldman Sachs release at 1145 GMT chain store sales for the week ended June 2. In the previous week, sales fell 0.5 percent.

The United States will overtake Russia as the world’s biggest natural gas producer in 2017, but it will still need imports to feed a voracious appetite, the International Energy Agency (IEA) said on Tuesday. Redbook releases its retail sales index of department and chain store sales for June at 1255 GMT. In the previous month, sales fell 0.9 percent.

The Institute for Supply Management releases its May non-manufacturing index at 1400 GMT. Economists forecast a reading of 53.5, a repeat of the April number.

Global sales of luxury goods should rise 7 percent a year through 2014, buoyed by a still-growing Chinese market and barring any major economic crises, Boston Consulting Group forecast on Tuesday.

The value of U.S. hotel deals for the first five months of 2012 came to $5.1 billion, down from $6.4 billion a year earlier, research from Jones Lang LaSalle Hotels indicated as attendees at a New York hospitality industry conference said they expected more hotel transactions this year.

European equities .STOXX50E rose 0.3 percent on Tuesday, with investors lured by beaten-down valuations and expectations that global policymakers could soon act to stimulate economic growth. The UK market is closed for a holiday.

Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis on Tuesday in a sign of heightened global alarm about the threat posed by strains inside the 17-nation monetary union.

The SP 500 ended flat on Monday after recent sharp losses, though worries about the European debt crisis and weaker U.S. data kept investors wary of equities.

The Dow Jones industrial average .DJI slipped 17.11 points, or 0.14 percent, to 12,101.46 at the close. The Standard Poor’s 500 Index .SPX inched up just 0.14 of a point, or 0.01 percent, to 1,278.18. The Nasdaq Composite Index .IXIC rose 12.53 points, or 0.46 percent, to close at 2,760.01.

(Reporting by Atul Prakash)

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