June 12, 2012-Stocks Poised to Open Higher

Wall Street remains poised to stage a rebound, if early indications are anything to go by. The U.S. index futures point to a moderately higher opening on Tuesday despite the simmering the debt crisis in Europe and a lack of any market moving catalysts domestically. That said, higher Spanish and Italian bond yields reflect waning risk appetite. A few debt auctions in Europe scheduled for the week, a few first-tier data releases from the U.S. later this week and the upcoming June 17th Greek election may also serve to keep sentiment subdued. As of 6:30 am ET, the Dow futures are gaining 78 points and the S&P 500 futures are up 7.70 points, while the Nasdaq 100 futures are adding 15.50 points. The euphoria generated by Spain's decision to seek a bailout faded on Monday, as U.S. stocks settled lower. On the economic front, the export & import price indexes for April are due out at 8:30 am ET. The consensus estimates call for a 1.1 percent month-over-month decline in import prices but a 0.1 percent increase in export prices.