Before the bell 4-4-07: Stock futures mixed ahead of data

Stock futures are mixed in early morning trading indicating to a possible higher start for the S&P 500 and a lower start for the Nasdaq ahead of some economic data released today.

Yesterday, stock markets rallied after Iran and the U.K. seemed to indicate a desire to solve the 15 sailor captive situation via diplomatic channels. Oil prices eased and continue to do so this morning ahead of today's weekly crude inventory report due at 10:30 a.m. EDT.

Another reason for yesterday's rally was a surprise increase in February home sales as reported by The National Association of Realtors. Today, investors will continue to eye economic data for more clues on inflationary pressures, the state of the economy and possible future rate moves by the Fed.

Today, February factory orders and March Institute of Supply Management's March non-manufacturing survey will be reported at 10:00 a.m. EDT. Also, the March employment poll from ADP as well as Challenger, Gray & Christmas data on planned layoffs will be released. These could serve as a precursor for the non-farm payroll figures.

Despite being confident of its ability to turn around its Chrysler unit, DaimlerChrysler AG (NYSE: DCX) CEO said the automaker is in talks with unidentified potential buyers.

Several companies are reporting today, among them: Best Buy Co., Inc. (NYSE: BBY) - with $1.52 expected EPS, Circuit City Stores Inc. (NYSE: CC) - 63 cents expected EPS, and Research in Motion Ltd. (NASDAQ: RIMM) - 99 cents expected EPS.