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Futures higher as markets await May jobs report

Tuesday - 6/4/2013, 9:45am  ET

In this Friday, May 31, 2013 photo, trader Warren Meyers works on the floor of the New York Stock Exchange. World stocks remained volatile Tuesday, June 4, 2013 after a disappointing U.S. manufacturing report lifted the mood of investors who believe negative economic news makes it more likely that the Federal Reserve will maintain its aggressive monetary stimulus program. (AP Photo/Richard Drew)

NEW YORK (AP) -- U.S. stock futures rose Tuesday on some strong housing numbers, though trading remained light with investors awaiting more clues about the Labor Department's monthly employment figure coming out at the end of the week.

Dow Jones industrial futures rose 17 points to 15,234. The broader S&P futures tacked on 2.8 points to reach 1,639. Nasdaq futures rose 7.25 points to 2,992.75.

Home prices jumped 12.1 percent in April from a year earlier, the biggest gain since February 2006, as buyers try to capitalize on low interest rates while the supply of new homes remains tight.

Real estate data provider CoreLogic reported Tuesday that prices rose in 48 states. Price also rose 3.2 percent in April from March, much better than the previous month-to-month gain of 1.9 percent.

Also on Tuesday, the Commerce Department reported that the U.S. trade deficit widened 8.5 percent to $40.3 billion in April, with a broad European recession and slowing economies in Asia hurting exporters.

That's giving markets a possible hint about the May employment report due Friday, and investors will be parsing numbers this week regarding factory orders, as well as the ADP employment report, both due Wednesday.

All of those reports can affect the hiring choices made by employers, which is one of the reasons for a very slow recovery for the U.S. economy.


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