Stock futures pointed toward a higher open on Tuesday. Before the opening bell, Dow Jones (INDEXDJX:.DJI) futures rose 0.17% to 16,683. Futures on the S&P 500 (INDEXSP:.INX) were up 0.16% to 1,885.80. Nasdaq (INDEXNASDAQ:.IXIC) futures moved higher, rising 0.23% to 3,616.
In a major win for privacy advocates, the European Union's top court has ruled
people can request Google
(NASDAQ:GOOG) to delete sensitive information from its Internet search results. Google argued that this so-called "right to be forgotten," which forces it to remove user information from its database, is censorship. Shares of Google were up 0.38% in pre-market trading.
Credit Suisse (NYSE:CS) could pay
over $2 billion in fees to settle two different US government probes into potential tax evasion. The New York State Department of Financial Services has proposed a $1 billion settlement, but sources told Reuters the fee could be pushed down in negotiations. Credit Suisse is also in discussions with the US Justice Department, which wants to fine the bank as much as $1.6 billion. Shares of Credit Suisse were down 1.91% in pre-market trading.
Pfizer (NYSE:PFE) is reportedly planning on raising its bid for rival drugmaker AstraZeneca (NYSE:AZN) after the UK-based AstraZeneca rejected a $106 billion bid -- which was Pfizer's second bid -- on May 2. Meanwhile, CEOs from AstraZeneca and Pfizer both testified in front of Parliament today, whose members were concerned Pfizer's takeover could lead to cut jobs and factory closings in England. During AstraZeneca CEO Pascal Soriot's hearing, he said he couldn't rule out accepting an offer from Pfizer. Shares of Pfizer rose 0.41% in pre-market trading. AstraZeneca rose 1.68%.
Facebook (NASDAQ:FB) has reportedly
been shopping for a sales office location in China, where the website has been banned by the government since 2009. Facebook currently operates an ad sales outfit in the region via an office in Hong Kong. However, an office on the mainland would open Facebook up to one of its last major untapped markets. Facebook was trading up 0.48% before the opening bell.
Today's economic calendar kicked off with the National Federation of Independent Business reporting that small-business optimism rose by a sizable 1.8 points in April -- the biggest monthly gain since 2007. Meanwhile, ICSC-Goldman same-store chain-store sales were mixed, with the weekly reading down, but with the strongest year-over-year rate since June last year. Retail sales grew by a disappointing 0.1%, as economists had forecasted 0.5% growth in sales. US import prices fell 0.4% in April, driven by declining fuel prices, while exports decreased 1%.
At 8:55 a.m. EDT, the Redbook chain-store sales will be released. Business inventories arrive at 10:00 a.m.
Overnight, Asian stocks rose
the most in seven weeks as US markets hit records and regional companies like Nissan
(OTCMKTS:NSANY) and Australian copper producer PanAust Ltd.
(ASX:PNA) reported strong quarterly earnings. Gains across Asian markets were sustained despite China's industrial output falling
in April, reporting an 8.7% gain from a year ago down from an 8.8% increase in March. In Europe, stocks extended a six-year high, despite a surprising slump in German investor confidence. The Centre for European Economic Research reported
that investor confidence fell to 33.1 in May, a steep fall from 43.2 in April. Meanwhile, in India it looks like the Bharatiya Janata party has won
the country's general election according to exit polls, which led Indian stocks to rally.
No positions in stocks mentioned.
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