Stocks: Another Tuesday, another rally?

June 4, 2013: 8:59 AM ET
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NEW YORK (CNNMoney)

It's Tuesday, so stocks must move higher, right?

If the Dow Jones industrial average manages even a small gain, this will be the 21st Tuesday in a row it will have ended in positive territory.

U.S. stock futures edged higher, pointing to a positive open for Wall Street.

After a downbeat Friday, U.S. stocks resumed their recent rally Monday. So far this year, all three major indexes are up roughly 16%.

In economic news, the U.S. government's trade deficit rose to $40.3 billion in April from $37.1 billion in March, as imports outpaced exports.

Related: Dow's Tuesday streak on the line

Early movers: Salesforce.com (CRM) shares fell after the company signed a deal to acquire cloud marketing platform ExactTarget (ET) for $2.5 billion. Shares of ExactTarget surged 50%.

General Motors (GM) shares rose about 3% following news that the automaker will rejoin the S&P 500, replacing H.J. Heinz (HNZ) at the end of trading Thursday.

Zynga (ZNGA) shares were under pressure, following a 12% plunge on Monday, after the online game maker said it would cut more than 500 jobs, or nearly 20% of its staff.

Dollar General (DG) reported earnings and sales in line with forecasts but lowered its guidance.

Housing recovery ripples through economy

Overseas markets bounce back: European markets were all in positive territory in morning trading, rebounding from a weak Monday session.

In Turkey, the country's benchmark index rallied by as much as 4.5% after markets took a steep drop Monday in reaction to unrest and anti-government protests across the nation.

Asian markets ended the day with mixed results.

Related: Fear & Greed Index slides into fear

Japan's Nikkei closed with a 2.1% gain based on a weakening yen and speculation that government officials will soon urge pension funds to increase their equity holdings.

Meanwhile, Hong Kong's Hang Seng was flat at the close and the Shanghai Composite Index declined by 1.2%.

In Australia, Billabong (BLLAF) shares took a dive after the surfwear company announced an end to takeover talks and warned of lower profits.

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Dow 16,493.37 -69.93 -0.42%
Nasdaq 4,352.64 -17.13 -0.39%
S&P 500 1,925.15 -5.52 -0.29%
Treasuries 2.50 -0.05 -2.00%
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Apple Inc 96.13 0.53 0.55%
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General Electric Co 25.35 0.20 0.80%
Ford Motor Co 16.81 -0.21 -1.23%
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