Stock futures point to higher open

NEW YORK -- U.S. stocks are poised to join a worldwide rebound from Monday's big sell-off, despite given up some of their early gains amid a worse-than-expected housing report.

The Commerce Department reported that construction of new U.S. homes fell 1% in July, missing analysts' expectations.

Separately, a new report showed wholesale prices fell 0.9% in July, pushing annual inflation to record low.

Stock index futures are moderately higher following the lead of overseas markets that rose in part on upbeat economic news from Germany.

Dow Jones industrial average futures are up 39, 0.4%, to 9,159. Standard & Poor's 500 index futures are up 4.00, or 0.4%, to 982.30, while Nasdaq 100 index futures are up 8.75, or 0.6%, to 1,575.00.

However, there is still much uncertainty in the U.S., where retailers are reporting earnings results that show American consumers are still wary. Home Depot has issued its second-quarter results, joining other retailers in reporting a drop in its sales.

The world's largest home improvement retailer said its second-quarter profit fell 7%, but its adjusted results beat Wall Street's expectations, as cost cuts partly offset weak sales. Home Depot also lifted its guidance for full-year earnings.

Dow Jones industrial average futures rose 51, 0.6%, to 9,171. Standard & Poor's 500 index futures rose 5.40, or 0.6%, to 983.70, while Nasdaq 100 index futures gained 11.00, or 0.7%, to 1,577.25.

Some rebound was to be expected after Monday's big drop, which took the Dow down 186 points. Stocks fell sharply and bond prices soared on growing fears that nervous consumers won't be able to spend enough to lift the economy into recovery.