U.S. stock futures were higher Tuesday morning, indicating that on the last day of the second quarter and first half of 2009 Wall Street is poised to start on a positive tone. Seems investors were ready to extend the biggest rally stocks have staged in a quarter in about a decade . Investors this morning also await several economic indicators -- including housing and consumer confidence -- due out later this morning, hoping further signs the economy have stabilized are in the cards and a recovery is ahead in the second half of the year.At 9:00 a.m. EDT, the Conference Board will release the June Consumer Confidence index, which is expected to have risen to 55.3 from 54.9, according to Briefing.com. The housing sector will also be in focus as at the same time the S&P/Case Shiller 20-city home price index for April is expected to show a decline from the year ago period. FInally, at 9:45 a.m., June's Chicago PMI, a regional manufacturing index, is expected to show it rose in June.
Meanwhile, oil prices rose to near $72 a barrel Tuesday after briefly jumping above $73 on a weakening U.S. dollar, more attacks on oil installations in Nigeria and portfolio positioning for the end of the quarter.
This portfolio positioning is not limited to oil and today could get a boost also from fund managers trying to position their clients' stock portfolios better, at least in appearance, by the end of the quarter. Some stocks that have done well could see further buying pressure today.
Overseas, Asian markets finished mixed and European stocks were little changed Tuesday. Global investors also awaited key economic reports due today and later this week for more clues about the speed of any potential recovery.
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