U.S. stock futures rose early on Tuesday as yields on Spanish notes dipped and the government released� mixed data on the U.S. housing market. Spanish 10-year bonds saw yields dip slightly to 7.03% — still extremely elevated levels but slightly below Monday’s yields. Housing starts fell to 708,000 in May from an upwardly revised 744,000 the month before. Permits, however, jumped to 780,000 from 723,000.
The FOMC starts a two-day meeting today.
Dow futures rose 29 points; S&P 500 futures rose 2.6 points.
FedEx (FDX) fell 1.4% after reporting better than expected on light revenue. The company’s first quarter guidance also disappointed the Street. UPS (UPS) fell 1%.
JC Penney (JCP) fell 5.4% after the company announced its president was leaving.
Walgreen (WAG) fell 8% after agreeing to buy a stake in health and beauty company Alliance Boots.
Pfizer (PFE) rose 0.1% on positive drug results.
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