stock futures higher in early trading

Post Bernanke rebound on tap
Stock futures higher in early trading Tuesday following sell-off on concerns about Bernanke comments spark new rate concerns.
June 6, 2006: 6:10 AM EDT


NEW YORK (CNNMoney.com) - Stocks looked to rebound from the sell-off Monday on concerns about the Federal Reserve and interest rates.

U.S. stock futures were up in early trading Tuesday, indicating a higher open for U.S. markets, following the sharp decline Monday in major U.S. indexes after Fed Chairman Ben Bernanke warned the central bank needed to continue to battle inflation even as the U.S. economy starts to slow. The comments at a Washington conference raised new expectations that the Fed would continue to hike interest rates at its June 29 meeting.

Oil prices were little changed in early trading Tuesday after a rise Monday on fresh concerns about Iran.

The July light crude futures contract for NYMEX was up 1 cent to $72.61 in electronic trading, while the July contract for Brent crude down 2 cents to $71.35

Major markets in Asia closed lower Tuesday on the Bernanke comments. Major European markets also were down in early trading. International airport operator BAA agreed to be purchased by Grupo Ferrovial for more about $19 billion.

Treasury prices were lower, lifting the yield on the benchmark 10-year note to 5.03 percent from the 5.02 percent level reached late Monday. The dollar was higher against the euro but little changed against the yen.

There are no economic reports due Tuesday. In corporate news, embattled automaker General Motors (Research) faces its shareholders at its annual meeting Tuesday.

For a more detailed look at the markets before the open, click here.

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