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On Wednesday, investors will see reports from a number of influential companies including four components of the Dow Jones industrial average. JPMorgan Chase & Co., Altria Group Inc., United Technologies Group Inc., and Coca-Cola Co. are all set to report. Stocks slid Tuesday after banks including Wells Fargo & Co. and KeyCorp reported disappointing quarterly results due to the ongoing credit crisis. Meanwhile, investors were also spooked after Federal Reserve Chairman Ben Bernanke said the housing slump may drag on through next year.
Dow futures rose 39, or 0.28 percent, to 14,011. Standard & Poor's index futures rose 7.00, or 0.45 percent, to 1,554.60. Nasdaq 100 index futures rose 15.75, or 0.72 percent, to 2,192.00.
Beyond earnings, Wall Street is also waiting for economic reports that could give investors a better glimpse at the economy. The government's consumer price index, which will be released at 8:30 a.m. EDT, should provide more information about the pace of inflation.
The Commerce Department will report on new home construction for August, which is expected to have slowed to its slowest pace in more than 12 years. The housing starts report will be released at 8:30 a.m. EDT.
Investors might also pour over the Fed's Beige Book report at 2 p.m. EDT. The report gauges regional economic conditions based on data gathered by the Fed's 12 regional district banks.
Oil traded lower ahead of the Energy Department's weekly petroleum report, which is forecast to show crude inventories rose last week. A barrel of light, sweet crude fell 27 cents to $87.34 in premarket electronic trading on the New York Mercantile Exchange.
Overseas, Japan's Nikkei stock average closed down 1.07 percent. Britain's FTSE 100 rose 0.14 percent, Germany's DAX index fell 0.13 percent, and France's CAC-40 rose 0.21 percent.
[Associated Press; by Joe Bel
Bruno]
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