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U.S. stocks were poised to claw higher early Tuesday, as investors await comments from Federal Reserve Chairman Ben Bernanke about the state of the economy.
A variety of reports, namely Friday's disappointing jobs data, have signaled a slowdown in the recovery and that's making investors nervous.
"There are worries that the U.S. economy is sputtering and global economic growth is slowing," said David Jones, chief market strategist at IG Markets.
In addition, the Federal Reserve's $600 billion stimulus will run out later this month.
Bernanke is scheduled to speak Tuesday before the International Monetary Conference.
Economy: The Federal Reserve will release its consumer credit report later today.
Companies: Ford (F, Fortune 500) plans to boost worldwide production 50% by mid-decade, to 8 million vehicles a year, CNN confirmed. Shares of the auto giant rose more than 1% in premarket trading.
Shares of International Paper Co. (IP, Fortune 500) jumped more than 4% in premarket trading, after the company offered to buy Temple-Inland (TIN) for $3.38 billion in cash late Monday. Temple-Inland's board rejected the offer. The company's stock soared 44% premarket.
After the bell, home builder Hovnanian Enterprises (HOV) is slated to report its second-quarter results. The company is expected to post a loss of 51 cents on revenue of $263 million.
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