U.S. futures higher ahead of data; Dow Jones up 0.14%

Investing.com - U.S. stock futures pointed to a higher open on Tuesday, as markets awaited the release of a string of U.S. economic data, while mixed reports from the euro zone prompted investors to remain cautious.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.14% rise, S&P 500 futures signaled a 0.15% gain, while the Nasdaq 100 futures indicated a 0.13% increase.

Markets were jittery after Eurostat said that the euro zone’s gross domestic product contracted by 0.2% in the three months to June, in line with expectations, bringing the annualized rate of contraction to 0.4%.

The report came after official data showed that Germany’s economy expanded by 0.3% in the second quarter, slightly better than expectations for 0.2% growth, and France’s economy stagnated in the second quarter, beating expectations for a 0.1% contraction.

Meanwhile, the ZEW Centre for Economic Research said that its index of German economic sentiment came in at minus 25.5 for August; down from July’s reading of minus 19.6 and defying expectations for a reading of minus 19.3.

The financial sector was expected to be active, following a surge in European lenders and as Standard Chartered CEO Peter Sands arrived in New York to attend a hearing this week.

On Monday, Deloitte LLP Chief Executive Joe Echevarria fought back against allegations that his firm helped Standard Chartered hide transactions with Iran, saying charges by the top New York state banking regulator were "distortions of the facts."

Among earnings, Home Depot was likely to be in focus, after reporting a higher-than-expected quarterly profit, as the world's largest home improvement chain kept a tight lid on costs to offset weakness in sales.
Shares climbed 2.52% in pre-market trade.

Groupon, on the other hand, saw shares plummet 18.68% to a record low of USD6.05 in early trading, as the daily deal site's revenue fell short of estimates, even though earnings beat forecasts.

The company’s Chief Financial Officer Jason Child said Europe's weak economy and currency fluctuations dented results. He also said Groupon is working to improve its performance in that region.

Elsewhere, the largest maker of computer-networking gear, Cisco, was likely to move, amid reports the firm faces threats to its profit margins from a new breed of software designed to help customers handle data traffic with fewer switches and routers.

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.50%, France’s CAC 40 advanced 0.44%, Germany's DAX rallied 0.87%, while Britain's FTSE 100 rose 0.47%.

During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.05%, while Japan’s Nikkei 225 Index climbed 0.5%.

Later in the day, the U.S. was to publish official data on retail sales and producer price inflation, followed by data on business inventories.