- Before the bell:
Market news
Before the bell:
U.S. stocks were set to open higher Tuesday morning, following a global market rally and as investors set their sights on 2011.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were up about 0.3% ahead of the opening bell.
On Monday, stocks ended mixed after waffling between gains and losses. The three major indexes have risen to two-year highs during the last few weeks, since President Obama announced the compromise deal on the Bush-era tax rates. Last Friday, the president signed a tax-cut plan into law.
Stocks rose about 5% this month, and are poised for double-digit gains for the year.
Companies: Toyota Motor Corp. (TM) -- the Japanese automaker that suffered a series of high-profile recalls -- will pay $32.4 million in civil penalties, the U.S. Department of Transportation said Monday. The penalty is the maximum allowed by law. Toyota's stock was little changed in premarket trade.
After the closing bell, Nike (NKE) will report its quarterly results. Analysts expect the sporting giant to report earnings per share of 88 cents, up 12 cents from the same period last year.
After the closing bell on Monday, Adobe Systems (ADBE) reported a profit of $269 million, or 53 cents per share, compared with a loss of $32 million, or 6 cents per share, during the same period a year earlier. Shares of Adobe surged 7% in premarket trade.
World markets:
Economy: There are no major economic reports on tap for Tuesday.
Oil for February delivery slipped 1 cent to $89.36 a barrel.
Gold futures for February delivery added 60 cents to $1,386.70 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury ticked up, pushing the yield down to 3.30%.
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