(Photo: REUTERS / Brendan McDermid)
Traders work on the floor of the New York Stock Exchange, September 12, 2011.
U.S. stock index futures point to a slightly higher open Tuesday as investors take a wait-and-see attitude toward the Federal Reserve, which may soon announce stimulus measures to spur growth.
Futures on the Dow Jones Industrial Average were up 0.04 percent, futures on the Standard & Poor's 500 index were up 0.02 percent and those on the Nasdaq 100 index were up 0.13 percent.
Investors are expected to focus on the Conference Board's consumer confidence index on Tuesday. That index, an indicator of consumer spending that plays a major role in measuring overall economic activity, is expected to rise to 66 in August, up from 65.9 in July.
The S&P/Case-Shiller House Price Index, which measures the change in the selling price of single-family homes in 20 metropolitan areas, will be reported by S&P Tuesday. It is expected to report a decline of 0.1 percent in June compared to the same month last year.
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On Monday, U.S. markets were mixed as investors remained cautious as they looked to the Federal Reserve to announce monetary easing measures to revive economic growth. Investors are likely to remain watchful ahead of Federal Reserve Chairman Ben Bernanke's speech at the annual economic symposium in Jackson Hole organized by the Federal Reserve Bank of Kansas City on Friday. Market players are hoping for a monetary stimulus policy announcement by the U.S. Fed as pressures on the economy intensify.
The Dow Jones Industrial Average fell 0.25 percent, the S&P 500 Index was down 0.05 percent and the Nasdaq Composite Index advanced 0.11 percent.
Major European indices were in the red as investors remained cautious as they looked to euro zone policy makers to come up with some stimulus measures to rejuvenate the faltering economy. European Central Bank President Mario Draghi will address at the Jackson Hole Symposium Saturday. London's FTSE 100 was down 2.51 points, Germany's DAX 30 Index fell 42.09 points and France's CAC 40 declined 14.53 points.
The majority of Asian stocks fell as investors' concerns about the weakening global economic economy grew on news that Japan's government lowered its assessment of the country's economy. A number of market experts feel that the Bank of Japan will need to urgently expand its asset purchase program (APP) due to Japan's economy slowing economic growth.
This article is copyrighted by International Business Times, the business news leader