Stocks May Move To The Upside At The Start Of Trading - U.S. Commentary

(RTTNews) - After ending the previous session roughly flat, stocks are likely to move to the upside at the start of trading on Tuesday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 32 points.

The markets may initially benefit from window dressing in the final trading day of the year, as some mutual fund managers look to improve their yearly performance.

Any early buying interest is likely to be somewhat subdued, however, with most traders expected to remain on the sidelines ahead of the New Year's Day holiday on Wednesday.

Subsequently, the markets are likely to largely shrug off the release of a batch of economic data, including reports on home prices, consumer confidence, and Chicago-area business activity.

In corporate news, shares of Netflix (NFLX) could be in focus after the Internet television network announced the termination of its shareholder rights plan two years ahead of schedule.

Cosmetics maker Revlon (REV) may also see increased activity after announcing plans to exit its China operations as part of a restructuring. The company said it will cut 1,100 positions and incur a $22 million dollar charge.

Meanwhile, shares of Marvell Technology (MRVL) are likely to see early strength on news that investment firm Kohlberg Kravis Roberts has bought a 6.8 percent stake in the chip maker.

After turning in a strong performance last week, stocks showed a lack of direction throughout the trading day on Monday before ending the session roughly flat. Traders seemed reluctant to make any significant moves amid another holiday-interrupted week.

The major averages finished the day mixed, although they all showed only modest moves. While the Dow crept up 25.88 points or 0.2 percent to 16,504.29, the Nasdaq edged down 2.40 points or 0.1 percent to 4,154.20 and the S&P 500 dipped 0.33 points or less than a tenth of a percent to 1,841.07.