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By Simon Kennedy, MarketWatch LONDON (MarketWatch) — U.S. stock market futures pointed to strong gains Tuesday after Chinese data helped drive rallies across Europe and Asia and as investors awaited U.S. figures on retail sales and producer prices.
Futures on the Dow Jones Industrial Average /quotes/zigman/1785993 DJ1U +0.62% rose 68 points to 11,953 and Standard & Poor’s 500 index futures /quotes/zigman/1277190 SP1U +1.02% were up 9.80 points at 1,276.
So what does the future hold in the eyes of one of the world's biggest aircraft manufacturers and would any airline actually buy into their idea where space is handed to an area to play virtual golf?
Nasdaq 100 futures /quotes/zigman/876546 ND1U +0.77% gained 13.50 points at 2,233.25.
U.S. large-cap stocks closed marginally higher on Monday, with the Dow /quotes/zigman/627449/delayed DJIA +0.0089% ending up a little over 1 point as enthusiasm over deal news helped offset growth concerns.
International markets were mostly much stronger Tuesday after Chinese economic data raised hopes that the country can avoid a sharp economic slowdown. China’s Shanghai Composite Index /quotes/zigman/1859015 CN:000001 +1.10% closed up 1.1% and Germany’s DAX 30 index /quotes/zigman/2380246 DX:DAX +1.66% rallied 1.7% in morning trading.
Among the U.S. data that will be in focus Tuesday are May figures on retail sales and producer prices. Economists polled by MarketWatch are expecting producer prices to have risen 0.1% in May, down from the 0.8% rate in April.
Among stocks in focus, mobile phone manufacturer Nokia Corp. /quotes/zigman/161997 FI:NOK1V +2.42% /quotes/zigman/162154 NOK -2.86% said it has agreed to settle all patent litigation with rival Apple Inc. /quotes/zigman/68270 AAPL +0.21% in a move that should help boost the Finnish group’s results.
Shares in Nokia rose 3.1% in European trading and Apple edged up 0.3% in premarket U.S. trading.
Also in the technology sector, Hewlett-Packard Co. /quotes/zigman/229301 HPQ -1.37% late Monday announced another round of management changes, including two senior-management departures.
In deal news, Avis Budget Group Inc. /quotes/zigman/2380077/quotes/nls/car CAR -0.19% agreed to acquire Avis Europe PLC /quotes/zigman/602861 UK:AVE +57.88% for 3.15 pounds ($5.73) a share, or around $1 billion in total.
General Mills Inc. /quotes/zigman/227548/quotes/nls/gis GIS +1.41% reaffirmed its forecast for fiscal 2011 adjusted earnings of $2.46 to $2.48 a share.
Among companies reporting earnings Tuesday, Best Buy Co. /quotes/zigman/219712/quotes/nls/bby BBY +1.37% is expected to report first-quarter earnings of 33 cents a share.
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/quotes/zigman/1277190 /quotes/zigman/876546 /quotes/zigman/627449/delayed /quotes/zigman/1859015 /quotes/zigman/2380246 /quotes/zigman/161997 /quotes/zigman/162154 /quotes/zigman/68270 /quotes/zigman/229301 /quotes/zigman/2380077/quotes/nls/car /quotes/zigman/602861 /quotes/zigman/227548/quotes/nls/gis /quotes/zigman/219712/quotes/nls/bby Simon Kennedy is the City correspondent for MarketWatch in London. View the original article here
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