The stock market was indicated to open higher Tuesday, as it seemed to shake off weakness in German stocks.
Index futures were slightly higher in the stock market today, while the S&P 500 proxy SPDR Trust (SPY), PowerShares QQQ (QQQ) and the Diamonds (DIA), which mirrors the Dow Jones industrial average, were up 0.1%.
In Europe, a weak reading in German confidence helped bring down German stocks. The DAX index was down 0.3%, but the FTSE 100 climbed 0.2%. France's CAC 40 was off a fraction.
U.S. futures had been lower following the news, but turned higher as the opening bell drew closer.
Solar stocks, which have been hot in recent days, tumbled in premarket trading and were among the most active in pre-opening dealings.
SolarCity (SCTY) plunged 10% after the company reported a loss of 41 cents a share and gave weak guidance. The stock soared 24% Monday to a new high ahead of the earnings report.
Rivals fell in sympathy. First Solar (FSLR) and SunPower (SPWR) were down about 1%.
Cree (CREE) was off 4% in premarket trading after Stern Agee reportedly downgraded the stock. The maker of LED lightbulbs has been at new highs after coming off support at the 10-week moving average.
Tesla Motors (TSLA) was poised to continue its big rally. Last week, it raised its sales outlook, sparking a 41% surge to new highs.
Source: http://news.investors.com/investing-stock-market-today/051413-655944-stocks-set-to-open-higher.htm
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